Exhibit 10-1 Labor and output data

-In Exhibit 10-1,the marginal product of the 3rd unit of labor is equal to:

Name: Exhibit 10-1 Labor and output data -In Exhibit 10-1,the marginal product of the 3rd unit of labor is equal to:
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Question

Exhibit 10-1 Labor and output data
 
-In Exhibit 10-1,the marginal product of the 3rd unit of labor is equal to:

Quizplus · Accepted Answer

The marginal product of labor is the additional output produced by one additional unit of labor. For the 3rd unit of labor, the change in total output from the 2nd unit to the 3rd unit is 35. Thus, the marginal product of the 3rd unit of labor is 35.

Exhibit 10-1 Labor and Output Data