Plot the five points on the total product curve where the, Ask an Expert

Economics

The following table provides data on elementary and secondary school enrollment and the number of classroom teachers for each of five years in the United States.

Year Enrollment Classroom teacher

1960 42181 1600

1965 48473 1933

1970 51272 2288

1975 49791 2451

1980 45949 2439

a. Plot the five points on the total product curve where the variable input is classroom teachers and the output is enrollment.

b. Find the point at which the total product is maximum.

c. Plot the average and marginal product for classroom teachers.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M969616

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