Happy Cupcake, a cupcake shop, has the following marginal product curve (labeled

Question

Happy Cupcake, a cupcake shop, has the following marginal product curve (labeled MP) for its hourly production.

Marginal product (MP) and average product (AP) curves always intersect at the(min/max) of the (AP/MP) curve.

Total, average, and marginal product Happy Cupcake, a cupcake shop, has the following marginal product curve (labeled MP) for its hourly production. Use the MP curve to fill in the Total Product column in the following table. In the previous table, fill in the Average Product column. Then, on the graph, use the blue points (circle symbol) to plot the average product (AP) curve at one, two, three, four, and five workers. Marginal product (MP) and average product (AP) curves always intersect at the

Explanation / Answer

WORKERS       MP                TP                  AP

0                         0                   0                    0

1                       10                  10                 10

2                       14                  24                 12

3                       12                  36                 12

4                        8                  44                  11

5                        1                  45                   9

MP and AP curves intersect at the maximum of AP curve

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