Use this table to answer the following questions: Fertilizer (lbs) Roses Average
ID: 1191750 • Letter: U
Question
Use this table to answer the following questions:
Fertilizer (lbs)
Roses
Average Product
Marginal Product
0
0
--
--
1
5
2
10
3
17
4
22
5
25
6
26
7
25
a. Complete the table above for both AP and MP.
b. In words interpret the MP of fertilizer when 6 lbs. are used?
c. In words, interpret the AP of fertilizer when 5 lbs. are used?
d. Does this function exhibit diminishing marginal product of fertilizer? If so, when does it begin?
e. Does this function exhibit diminishing total returns” If so, when does it begin?
Fertilizer (lbs)
Roses
Average Product
Marginal Product
0
0
--
--
1
5
2
10
3
17
4
22
5
25
6
26
7
25
Explanation / Answer
Working notes:
1. AP = Output / Input = Number of roses / Quantity of fertilizer
2. MP = Change in number of roses / Change in number of fertilizer.
(a)
(b) When 6 lb fertilizer is used, Mp = 1. This means that, when fertilizer amount is increased from 5 to 6 units, output produced (Roses) increased by 1 unit.
(c) When 5 lb fertilizer is used, AP = 5. This means that, for each 1 unit of fertilizer, 5 units of roses are produced.
(d) Yes, diminishing MP of fertilizer exists. It starts at output level of 22 when MP starts decreasing.
(e) Yes, diminishing TP also is existent. It starts at output level of 25 when output has decreased from previous level of 26 to 25.
Fertilizer (lb) Roses AP MP 0 0 - - 1 5 5.0 5 2 10 5.0 5 3 17 5.7 7 4 22 5.5 5 5 25 5.0 3 6 26 4.3 1 7 25 3.6 -1Related Questions
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