Refer to the information provided in Table 31.1 below to answer the question(s) that follow.
Table 31.1

-Refer to Table 31.1. From Period 2 to Period 3, the marginal return to labor is equal to
A) 0.67.
B) 1.5.
C) 3.36.
D) 3.76.

Question

Refer to the information provided in Table 31.1 below to answer the question(s) that follow.
Table 31.1
 
-Refer to Table 31.1. From Period 2 to Period 3, the marginal return to labor is equal to
A) 0.67. 
B) 1.5. 
C) 3.36. 
D) 3.76.

Quizplus · Accepted Answer

The marginal return to labor is calculated by the change in output divided by the change in labor. From Period 2 to Period 3, if the output increases by a certain amount and labor increases by 1 unit, the marginal return is the increase in output, which is 1.5.

Refer to the Information Provided in Table 31