Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 18, Problem 12APA
To determine
The value of marginal product of labor.
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Students have asked these similar questions
Question 1
The market for drones is perfectly competitive. Labor is the only variable input. The fixed cost is $500.
Based on the information in the table below, what is the Marginal Product of Labour when Q-300? Enter a number only, drop the $ sign.
Wage rate $100 per unit of Labour
Quantity of Quantity of
Labour
Output
2
49
119
300
15
26
51
400
Taco King produces tacos
The market for tacos is perfectly competitive, and the price is $3.50 a taco. The labor market is competitive, and the wage
rate is $105.00 a day
The table shows part of the workers total product schedule
Calculate the marginal product of hiring the third worker and the value of the marginal product of the third worker
The marginal product of hiring the third worker is tacos a day
The value of the marginal product of the third worker is
Saday
1
C
Workers
2
3
4
5
6
Tacos
per day
44
80
110
134
146
Economics
Corner Coffe sells coffee at $2 and can rent espresso machines at $500 per month. It has the
following production schedule:
Calculate the marginal product and the value of the marginal product of each robot. Use only
whole numbers.
Number of Machines. Total Product
Marginal Product.
Marginal Product Value
500
2
700
850
950
1000
4
6
1025
How many machines should you rent? $_
Chapter 18 Solutions
Macroeconomics
Ch. 18.1 - Prob. 1RQCh. 18.1 - Prob. 2RQCh. 18.1 - Prob. 3RQCh. 18.2 - Prob. 1RQCh. 18.2 - Prob. 2RQCh. 18.2 - Prob. 3RQCh. 18.2 - Prob. 4RQCh. 18.3 - Prob. 1RQCh. 18.3 - Prob. 2RQCh. 18.3 - Prob. 3RQ
Ch. 18.3 - Prob. 4RQCh. 18.3 - Prob. 5RQCh. 18.3 - Prob. 6RQCh. 18.4 - Prob. 1RQCh. 18.4 - Prob. 2RQCh. 18.4 - Prob. 3RQCh. 18.4 - Prob. 4RQCh. 18.4 - Prob. 5RQCh. 18 - Prob. 1SPACh. 18 - Prob. 2SPACh. 18 - Prob. 3SPACh. 18 - Prob. 4SPACh. 18 - Prob. 5SPACh. 18 - Prob. 6SPACh. 18 - Prob. 7SPACh. 18 - Prob. 8SPACh. 18 - Prob. 9SPACh. 18 - Prob. 10SPACh. 18 - Prob. 11APACh. 18 - Prob. 12APACh. 18 - Prob. 13APACh. 18 - Prob. 14APACh. 18 - Prob. 15APACh. 18 - Prob. 16APACh. 18 - Prob. 17APACh. 18 - Prob. 18APACh. 18 - Prob. 19APACh. 18 - Prob. 20APACh. 18 - Prob. 21APACh. 18 - Prob. 22APACh. 18 - Prob. 23APACh. 18 - Prob. 24APACh. 18 - Prob. 25APACh. 18 - Prob. 26APACh. 18 - Prob. 27APA
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