Exhibit 7-13 The Total Product of Labor Given the information in Exhibit 7-13, what is the marginal product of the third unit of labor?
A)slightly less than 2 units of output but more than 1.5 units of output
B)less than the marginal product of the second unit of labor
C)more than the marginal product of the second unit of labor
D)more than the marginal product of the fourth unit of labor
E)cannot be determined from the graph of total product

Question

Exhibit 7-13 The Total Product of Labor  Given the information in Exhibit 7-13, what is the marginal product of the third unit of labor?
A)slightly less than 2 units of output but more than 1.5 units of output 
B)less than the marginal product of the second unit of labor 
C)more than the marginal product of the second unit of labor 
D)more than the marginal product of the fourth unit of labor 
E)cannot be determined from the graph of total product

Quizplus · Accepted Answer

The marginal product of labor is the additional output produced by adding one more unit of labor. From the graph, we can see that the total product of the second unit of labor is 6 units and the total product of the third unit of labor is 9 units. Therefore, the marginal product of the third unit of labor is 3 units (9-6), which is more than the marginal product of the second unit of labor (2 units).

Exhibit 7-13 the Total Product of Labor Given the Information