Asked by Cecilee Humphries on May 16, 2024
Verified
Refer to Table 18-6. What is the third worker's marginal product of labor?
A) 120 cupcakes
B) 140 cupcakes
C) 125 cupcakes
D) 180 cupcakes
Marginal Product
The additional output that results from using one more unit of a factor of production, keeping other factors constant.
- Comprehend the principle of marginal productivity and its significance in establishing the demand for labor by firms.
Verified Answer
SD
sheila dlaminiMay 19, 2024
Final Answer :
C
Explanation :
The third worker's marginal product of labor is the difference in output between having two and three workers, which is 475 cupcakes - 350 cupcakes = 125 cupcakes.
Learning Objectives
- Comprehend the principle of marginal productivity and its significance in establishing the demand for labor by firms.
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