value of Q for each of the alternative values of L. Plot the
values of Q and L on the same diagram as in part (b).
d. Explain why an increase in K increases the level of Q
any given level of L).
14. The following table shows how the total output of skates (per
month) changes when the quantity of the variable input (labour)
changes. The firm’s amount of capital is fixed.
Hours of
Labour (per
month)Pairs of Skates
(per month)Average
ProductMarginal
Product