Various levels of output for employment:
1. Calculate the MPPL schedule
2. Calculate the marginal physical product of labor (MPPL) and marginal cost of labor (MRCL) with a fixed wage of $5 per hour.
3. Assuming capital is constant, with 3 machines and MPPK/MRCK = 30, what is the least cost input combo of labor and capital? How much output is produced?
Workers Output
1 500
2 800
3 2000
4 2600
5 2900
6 3100
I have calculated MP:
Workers MP
1 500
2 400
3 666.67
4 650
5 580
6 516.67