Consider the following production and cost schedule for a firm.The first column shows the number of units of a variable factor of production employed by the firm.
TABLE 13-1
-Refer to Table 13-1.The marginal product of the 15th unit of the factor of production is
A)-2.
B)0.
C)2.
D)82.
E)84.

Question

Consider the following production and cost schedule for a firm.The first column shows the number of units of a variable factor of production employed by the firm.
  TABLE 13-1
-Refer to Table 13-1.The marginal product of the 15th unit of the factor of production is
A)-2. 
B)0. 
C)2. 
D)82. 
E)84.

Quizplus · Accepted Answer

The marginal product of the 15th unit of the factor of production can be found by calculating the change in total product resulting from increasing the variable factor of production from 14 to 15. The total product for 14 units is 90 and the total product for 15 units is 92, so the marginal product of the 15th unit is 92-90=2.

Consider the Following Production and Cost Schedule for a Firm