8/14/2019 T 96 Table 6 1

1/14

TABLE6

.1

Pro

duct

ionw

ithOn

eVaria

bleInput

Amount

Amount

Total

Average

Ma

rginal

ofLabor(L)

ofCapital(K)

Output(q)

Prod

uct(q/L)

Produc

t(q/L)

0

10

0

1

10

10

10

10

2

10

30

15

20

3

10

60

20

30

4

10

80

20

20

5

10

95

19

15

6

10

108

18

13

7

10

112

16

4

8

10

112

14

0

9

10

108

12

4

10

10

100

10

8

Microeconomics,6/e

RobertS.

PindyckandDanielL.Rubinfeld

2005PrenticeHall,Inc

APea

rsonEducationCompany

Upper

SaddleRiver,NJ07458

T-96

Table

6-1

8/14/2019 T 96 Table 6 1

2/14

1 2 9 10

1 2 43 5 6 7 8 9 100

112

60

30

20

10

Outputper

month

Outputper

workerper

month

0

Labor per Month

Labor per month

(a)

(b)

Total Product

Average Product

Marginal Product

C

B

A

D

E

3 4 5 6 7 8

Microeconomics, 6/eRobert S. Pindyck and Daniel L. Rubinfeld

2005 Prentice Hall, IncA Pearson Education Company

Upper Saddle River, NJ 07458

T-97 Figure 6-1

8/14/2019 T 96 Table 6 1

3/14

10

9

8

7

6

5

4

3

2

1

0

50100

Output per

time

period

O3

O2

O1

Laborpertimeperio

d

C

B

A

Microeconomics,6/e

RobertS.

PindyckandDanielL.R

ubinfeld

2005PrenticeHall,Inc

APea

rsonEducationCompany

Upper

SaddleRiver,NJ07458

T-98

Figure

6-2

8/14/2019 T 96 Table 6 1

4/14

TABLE6

.2

In

dexo

fWorl

dFoo

dPro

duct

ion

Per

Cap

ita

Year

Index

1948

1952

100

1960

115

1970

123

1980

128

1990

138

1995

140

2001

161

Microeconomics,6/e

RobertS.

PindyckandDanielL.R

ubinfeld

2005PrenticeHall,Inc

APea

rsonEducationCompany

Upper

SaddleRiver,NJ07458

T-99

Table

6-2

8/14/2019 T 96 Table 6 1

5/14

350

3.2

3.0

2.6

2.8

2.4

2.2

2.0

1.6

1.8

300 19

70

1975

1980

1985

1990

1995

2000

2005

250

200

150

100 50

CerealYield

FoodPrice

Index

Foodpriceindex(1990=100)

Cereal yields (metric tons per hectare)

Microeconomics,6/e

RobertS.

PindyckandDanielL.R

ubinfeld

2005PrenticeHall,Inc

APea

rsonEducationCompany

Upper

SaddleRiver,NJ07458

T-100

Figure

6-3

8/14/2019 T 96 Table 6 1

6/14

TABLE6

.3

La

bor

Pro

duct

ivityinDeve

lope

dCoun

tries

UNITED

UNITED

STATES

J

APAN

FRANC

E

GERMANY

KINGDOM

Re

alOutputperEmployedPerson(2001)

$75,5

75

$52,8

48

$62,46

1

$66,3

69

$52,4

99

Years

Ann

ualRateo

fGrowtho

fLaborProductivity(%

)

1960

1973

2.2

9

7.8

6

4.7

0

3.9

8

2.8

4

1974

1982

0.2

2

2.2

9

1.7

3

2.2

8

1.5

3

1983

1991

1.5

4

2.6

4

1.5

0

2.0

7

1.5

7

1992

2001

2.0

0

1.1

9

0.8

6

2.1

0

1.9

8

Microeconomics,6/e

RobertS.

PindyckandDanielL.R

ubinfeld

2005PrenticeHall,Inc

APea

rsonEducationCompany

Upper

SaddleRiver,NJ07458

T-101

Table

6-3

8/14/2019 T 96 Table 6 1

7/14

TABLE6

.4

P

roduct

ionw

ithTw

oVaria

bleInputs

LaborInput

CapitalInput

1

2

3

4

5

1

20

40

55

65

75

2

40

60

75

85

90

3

55

75

90

100

105

4

65

85

100

110

115

5

75

90

105

115

120

Microeconomics,6/e

RobertS.

PindyckandDanielL.R

ubinfeld

2005PrenticeHall,Inc

APea

rsonEducationCompany

Upper

SaddleRiver,NJ07458

T-102

Table

6-4

8/14/2019 T 96 Table 6 1

8/14

Capital p

er

month

Laborpermon

th

A

D

1

2

3

4

12345

E

q39

0

q27

5

q15

5 5

B

C

Microeconomics,6/e

RobertS.

PindyckandDanielL.R

ubinfeld

2005PrenticeHall,Inc

APea

rsonEducationCompany

Upper

SaddleRiver,NJ07458

T-103

Figure

6-4

8/14/2019 T 96 Table 6 1

9/14

1

2

3

4

5

012345

Capital per

month

Laborpermonth

q3=9

0

q2=75

q1=55

K

=2

L=1

K=1

L=1

L=1

L=1

K=

23

K=

13

Microeconomics,6/e

RobertS.

PindyckandDanielL.R

ubinfeld

2005PrenticeHall,Inc

APea

rsonEducationCompany

Upper

SaddleRiver,NJ07458

T-104

Figure

6-5

8/14/2019 T 96 Table 6 1

10/14

Capital

per

month

A

B

C Laborpermonth

q1

q2

q3

Microeconomics,6/e

RobertS.

PindyckandDanielL.R

ubinfeld

2005PrenticeHall,Inc

APea

rsonEducationCompany

Upper

SaddleRiver,NJ07458

T-105

Figure

6-6

8/14/2019 T 96 Table 6 1

11/14

Capita

l

per

month

K

1

Laborpermonth

A

B

C

L1

q1

q2

q3

Microeconomics,6/e

RobertS.

PindyckandDanielL.R

ubinfeld

2005PrenticeHall,Inc

APea

rsonEducationCompany

Upper

SaddleRiver,NJ07458

T-106

Figure

6-7

8/14/2019 T 96 Table 6 1

12/14

Capital

(machine

hoursper

year)

120

100 90 80 40

Output=13,8

00Bus

hels

perYear

500

760

1000

250

Labor

(hoursperyear)

A

B

K=

10

L=260

Microeconomics,6/e

RobertS.

PindyckandDanielL.R

ubinfeld

2005PrenticeHall,Inc

APea

rsonEducationCompany

Upper

SaddleRiver,NJ07458

T-107

Figure

6-8

8/14/2019 T 96 Table 6 1

13/14

Capital

(machine

hours)

Capital

(machine

hours) 6 4 2 0

24

5

10

30

20

10

30

20

10

15

5

10

Labor(h

ours)

Labor(hours)

(a)

(b)

A

A

0

Microeconomics,6/e

RobertS.

PindyckandDanielL.R

ubinfeld

2005PrenticeHall,Inc

APea

rsonEducationCompany

Upper

SaddleRiver,NJ07458

T-108

Figure

6-9

8/14/2019 T 96 Table 6 1

14/14

TABLE6

.5

The

U.S.

Carpet

Ind

ustry

CarpetShipments,

2001

(MillionsofDollarsperYear)

*

1.

ShawIndustries

4012.0

6.

Inte

rfaceFlooring

639.8

2.

MohawkIndustries

3350.0

7.

Ma

nningtonMills

555.0

3.

Armstrong

1816.6

8.

Collins&Aikman

500.0

4.

BeaulieuofAmerica

1300.0

9.

The

DixieGroup

484.6

5.

Dal-Tile

667.0

10.

Domco-Tarkett

419.5

*ThedatainTable6.5representtotalfloor-coveringsalesin2001,

ofwhich69.1percentiscomposed

ofcarpet(broadloo

ma

ndrugs).

Microeconomics,6/e

RobertS.

PindyckandDanielL.R

ubinfeld

2005PrenticeHall,Inc

APea

rsonEducationCompany

Upper

SaddleRiver,NJ07458

T-109

Table

6-5