Dominick Salvatore Schaums Outline of Microeconomics, 4th edition Schaums Outline Series 2006

CHAP. 7] COSTS OF PRODUCTION 169
7.21 From the isoquant diagram in Fig. 7-18, and assuming that the amount of capital is fixed at three units
per time period (thus we are dealing with the short run), (a) derive the TP L schedule and from it the AP L
and the MP L schedules and (b) plot these curves.
Fig. 7-18
(a) Table 7.12
(1) L 1 2 3 4 5 6 7
(2) TP L 100 300 700 1000 1200 1300 1350
(3) AP L 100 150 233 250 240 217 194
(4) MP L
.. 200 400 300 200 100 50
(b)
Fig. 7-19