The following table shows how apple output changes as additional apple pickers are hired.Calculate marginal physical product,total revenue,and marginal revenue product.The price of apples is $4 per basket.
Table 8.1-Apple Production
-In Table 8.1,what is the marginal physical product of the 3^rd apple picker?

Question

The following table shows how apple output changes as additional apple pickers are hired.Calculate marginal physical product,total revenue,and marginal revenue product.The price of apples is $4 per basket.
Table 8.1-Apple Production

-In Table 8.1,what is the marginal physical product of the 3^rd apple picker?

Quizplus · Accepted Answer

The marginal physical product is the additional output produced by adding one more unit of input. If the 3rd apple picker increases output by 5 baskets per day, then the marginal physical product is 5 baskets per day.

The Following Table Shows How Apple Output Changes as Additional