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Your posts are moderated. Average product and marginal product: Average product (AP) is the output per unit of the variable factor employed. In other words, it is the productivity of the variable factor (VF). It is measured by dividing total product (TP) by amount of variable factor employed.i.e.verage product and marginal product: Average product (AP) is the output per unit of the variable factor employed. In other words, it is the productivity of the variable factor (VF). It is measured by dividing total product (TP) by amount of variable factor employed. i.e.
The average cost function (AC) for a product is given byAC0.006x 2 0.02x30 5000x=--+ , where x is the output. Find (i) the marginal costfunction (ii) the marginal cost when 50 units are produced.5. The total cost function for a company is given by 2 3C(x)x7x274=-+. Find thelevel of output for which MC = AC.6.