-In the table above, the value of marginal product of the third unit of labour is
A) $12.
B) $3.
C) $16.
D) $4.

Name: -In the table above, the value of marginal product of the third unit of labour is A) $12. B) $3. C) $16. D) $4.
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Question

-In the table above, the value of marginal product of the third unit of labour is
A) $12. 
B) $3. 
C) $16. 
D) $4.

Quizplus · Accepted Answer

The value of the marginal product of labor is calculated by multiplying the marginal product of labor by the price of the output. If the marginal product of the third unit of labor is given as 4 and the price of the output is $3, then the value is 4 * $3 = $12.

-In the Table Above, the Value of Marginal Product of the Third