Homework Answers
Answer
6 units
2 ladders
-------
MP(n)=(TP(n)-TP(p))/(n-p)
MP(n)=marginal product of n th unit of input
TP(n)= total product of n inputs
TP(p)=total product of p inputs
it is true for n>p
MP(2)=(16-10)/(2-1)=6 units
the marginal product of the second ladder is 6 units
The diminishing marginal product set in as the second ladder is in.
The MPL decreases as the second ladder set in
| Ladder | Output | MPL |
| 1 | 10 | 10 |
| 2 | 16 | 6 |
| 3 | 21 | 5 |
| 4 | 24 | 3 |
| 5 | 26 | 2 |
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