Followers of major league baseball who are unfamiliar with the terms marginal pr

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Followers of major league baseball who are unfamiliar with the terms marginal product and average product are quite familiar with batting averages and how they are computed. In fact, the formula for the average product of labor is very similar to the formula for batting average, and the behavior of a batting average from game to game is determined by a player's "marginal batting performance" (MBP) in much the same way that the behavior of the marginal product of labor influences the average product of labor. We can demonstrate MBP by using the experience of Ted Williams near the end of the 1941 season, when Williams became the last major league batter with a batting average over 400. The following is Williams' own account of this feat: It came down to the last day of the season .... I was down to 39955. ... I'd slumped ... from a high of .436 in June ... 402 in late August, then up to .413 in September. In the last ten days of the season, my average dropped. ... Now it was hardy .400. In a doubleheader played on the last day of the regular season, Williams had six hits in eight at bats. His batting average for the year was computed by dividing his total number of hits (185) by the total number of his at bats (456), which equals 0.406. The average product of labor is computed in similar manner: total output produced by a firm divided by the total quantity of workers. Williams's "marginal batting performance," or MBP, can be computed by dividing the change in the number of his hits (six, on the last day in 1941) by the change in the number of his at bats (eight), or 0.750. The marginal product of Libor equals the change in output produced by a firm divided by the change in the quantity of workers. Source: Ted Williams with John Underwood. My Turn at Bat: The Story of my life. 2nd edition (New York: Simon & Schuster, 1988). What was the effect of Williams's MBP on his batting average (BA) at the end of the 1941 season? Compare the relationship between MBP and BA with the relationship between the marginal and average product of labor. Step 1: Review the chapter material. Step 2: Answer part a. by explaining the effect of Williams's MBP on his batting average (BA) at the end of the 1941 season. Step 3: Answer part b. by comparing the relationship between MBP and BA with the relationship between the marginal and average product of labor.

Explanation / Answer

A) The game of baseball uses the economic terms which have the similar meanings and interpretations like Marginal Batting Performance similar to Marginal Product of labour and Batting Average to Average Product of labour. It shows the experience of TED WIILLIAMS'S at the end of 1941 season when TEDs batting average was around 0.400 and his marginal batting performance was 0.750.

B) THE EFFECT OF WILLIAMS'S MBP ON HIS BA AT THE END OF 1941 SEASON:-

Williams's batting average at the end of 1941 season was 0.406 which was computed by dividing his total number of hits by total number of hits at his bat which was his average for the year and the marginal batting performance which is computed by dividing the change in the number of his hits by the change in the number of his hits at bat was 0.750 which was larger than the batting average because his MBP was computed on the last day of the season of 1941 not like the prior BA which was computed over the period of year which had a lower average.

C)COMPARING RELATION BETWEEN MBP AND BA WITH MARGINAL AND AVERAGE PRODUCT OF LABOR

Marginal product is given by the change in output produce by firm to the change in the quantity of workers and Average Product is given by total output produced by firms to the total quantity of workers. Marginal product increases with the amount of workers you have when making a product .For each new worker the amount of products will increase but as the amount the workers you hire the amount of products will tend to be less and less.There will come a point if you add one more worker , the products you made will go the point where you will not be able to out more products because the amount you produce will be non-existent.The law of Diminishing Returns will eventually start where the amounts you produce will go so down that you won't be able to put anymore products.

For eg:- A worker has to file 15 documents per hour but alone he cnt do the work so firm hires one more labour. Now total work from both workers is 45 documenst per hour. The AP is 45/2=22.5 and MP is total output from two workers minus the first i.e., 45-15=30.

Similarly,here in TED WIILIAMS'S case the Batting Average was given by total number of hits by total number of hits at bat and Marginal Batting Performance is given by change in the number of hits by the change in the number of his hits at bat. Suppose a player at his starting has an average of 0.250.Now suppose during game he is at bat 5 times get one hit and strikes out other four times.His MBP is 1/5=0.200 which will cause his season BA (OVERALL) to fall below 0.250 and suppose if he gets more strikes then his BA will increase.

If MP<AP, then average declines

If MP> AP, then average rises

If MP=AP, then average does not change.

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