Use the following to answer question(s): Demand and Supply of Bricklayers in a Perfectly Competitive Labor Market

-(Exhibit: Demand and Supply of Bricklayers in a Perfectly Competitive Labor Market) If the price for "bricks laid in the wall" by a bricklayer is $.10 a brick, the marginal product of the second bricklayer is _______ bricks.
A) 1,500
B) 1,400
C) 1,300
D) 1,200

Question

Use the following to answer question(s): Demand and Supply of Bricklayers in a Perfectly Competitive Labor Market
 
-(Exhibit: Demand and Supply of Bricklayers in a Perfectly Competitive Labor Market) If the price for "bricks laid in the wall" by a bricklayer is $.10 a brick, the marginal product of the second bricklayer is _______ bricks.
A) 1,500 
B) 1,400 
C) 1,300 
D) 1,200

Quizplus · Accepted Answer

At the price of $.10 per brick, the quantity demanded is 2,900 and the quantity supplied is 1,500. The intersection of these two curves gives us the equilibrium quantity of 1,400 bricks laid by each bricklayer. Therefore, the marginal product of the second bricklayer is 1,400 bricks.

Use the Following to Answer Question(s): Demand and Supply of Bricklayers