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{"ops":[{"insert":"Fill in the blanks in the following table using the values given in some of the cells. The table shows labour inputs (Lb) and outputs (Y) for a firm. Suppose that just one input, Labour, is changing and that we are holding capital fixed. (Hint: To compute total output when labour input (Lb) = 2, note that APP=200. Hence, total output (Y) = Lb * APP = 400; now, knowing that total output increased from 150 to 400 when labour input increased from 1 to 2, you can compute the MPP between 1 and 2 = 400 - 150 = 250 \u2026. and so on). Quantity of Labour Input (Lb) Total output (Y) Marginal Physical Product (MPP) Average Physical Product (APP) 0 0 - 1 150 2 200 200 3 4 760 150 5 6 150\u00a0\n"}]}
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