Given the table below,if capital is fixed at two units,what is the marginal product of the fourth unit of labor? $$\begin{array}{l}
\quad\quad\quad\quad\quad\text { Units of Capital }\
\begin{array} { c c c c c }
\hline & & 1 & 2 & 3 \
\text { Units } & 1 & 80 & 100 & 120 \
\text { of } & 2 & 180 & 220 & 260 \
\text { Labor } & 3 & 270 & 330 & 390 \
& 4 & 340 & 420 & 500 \
& 5 & 390 & 490 & 590 \
& 6 & 410 & 530 & 650
\end{array}
\end{array}$$ Amount of total output produced from various combinations of labor and capital.
A)60
B)80
C)100
D)420
E)none of the above

Question

Given the table below,if capital is fixed at two units,what is the marginal product of the fourth unit of labor? $$\begin{array}{l}
\quad\quad\quad\quad\quad\text { Units of Capital }\
\begin{array} { c c c c c } 
\hline & & 1 & 2 & 3 \
\text { Units } & 1 & 80 & 100 & 120 \
\text { of } & 2 & 180 & 220 & 260 \
\text { Labor } & 3 & 270 & 330 & 390 \
& 4 & 340 & 420 & 500 \
& 5 & 390 & 490 & 590 \
& 6 & 410 & 530 & 650
\end{array}
\end{array}$$ Amount of total output produced from various combinations of labor and capital.
A)60
B)80
C)100
D)420
E)none of the above

Quizplus · Accepted Answer

The marginal product of the fourth unit of labor, when capital is fixed at two units, is calculated by subtracting the total output with three units of labor from the total output with four units of labor. From the table, with two units of capital, the total output with three units of labor is 330, and with four units of labor, it is 420. Therefore, the marginal product of the fourth unit of labor is 420 - 330 = 90, which is not listed among the options provided.

Given the Table Below,if Capital Is Fixed at Two Units,what