-Refer to Table 16-1. The marginal product of the fourth unit of labor is

Question

Quizplus · Accepted Answer

The marginal product of labor is the increase in output resulting from a one-unit increase in the amount of labor used, holding all other inputs constant. Without the specific data from Table 16-1, the general approach to find the marginal product of the fourth unit of labor involves subtracting the total output produced with three units of labor from the total output produced with four units of labor. The answer provided (C) suggests that the increase in output from adding the fourth unit of labor is 60, indicating that this is the marginal product of the fourth unit of labor.