Table 18-9

-Refer to Table 18-9.This table describes the number of baseballs a manufacturer can produce per day with different quantities of labor.Each baseball sells for $5 in a competitive market.For which level of employment is the marginal product of labor greatest?

Question

Table 18-9
 
-Refer to Table 18-9.This table describes the number of baseballs a manufacturer can produce per day with different quantities of labor.Each baseball sells for $5 in a competitive market.For which level of employment is the marginal product of labor greatest?

Quizplus · Accepted Answer

The marginal product of labor is greatest when the addition of one more worker results in the largest increase in output. This typically occurs at the point where the increase in output from adding an additional worker is the highest, which is often at the initial stages of production.

Table 18-9 -Refer to Table 18-9.This Table Describes the Number of Baseballs