Total Fixed Total VariableLaborOutput(workers) (units per day) (dollars)costcot(dollars)204.20202550313207541620100518201251. The marginal product (MPL) of the 3rdworker equals:a. 4.33b. 13C. 4d. 9prt scPAA&68%3D1O

Marginal product is given by the formula MPL= Change in output/ Change in labor input At third…

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1. The marginal product (MPL) of the 3rd worker equals: a. 4.33 b. 13 C. 4 O d. 9

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Total Fixed Total Variable
Labor
Output
(workers) (units per day) (dollars)
cost
cot
(dollars)
20
4.
20
20
25
50
3
13
20
75
4
16
20
100
5
18
20
125
1. The marginal product (MPL) of the 3rd
worker equals:
a. 4.33
b. 13
C. 4
d. 9
prt sc
PAA
&
6
8
%3D
1O

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