Gerald owns a factory that produces,among other things,wheelbarrows.He currently has 7 employees; with 7 employees,his factory can produce 12 wheelbarrows per day.If he hired an eighth employee,he'd be able to produce 16 wheelbarrows per day.Therefore,the marginal product of the eighth employee is ________ wheelbarrow(s).

Question

Quizplus · Accepted Answer

The marginal product of the eighth employee is the additional output produced as a result of hiring one more employee, which is calculated as 16 wheelbarrows per day with the eighth employee minus 12 wheelbarrows per day with seven employees, resulting in a marginal product of 4 wheelbarrows.

Gerald Owns a Factory That Produces,among Other Things,wheelbarrows