Figure 8-1

-Refer to Figure 8-1.The marginal product of the 3rd worker is

Question

Figure 8-1
 
-Refer to Figure 8-1.The marginal product of the 3rd worker is

Quizplus · Accepted Answer

The marginal product of the 3rd worker is the additional output produced by adding one more worker. From the graph, we can see that the output increases from 45 units with 2 workers to 60 units with 3 workers. Therefore, the marginal product of the 3rd worker is 60 - 45 = 15. This is the highest marginal product of all the available choices, so the best choice would be to hire the 3rd worker.

Figure 8-1 -Refer to Figure 8-1.The Marginal Product of the 3rd Worker