Table 18-2
The following table shows the production function for a particular business.The numbers represent the various labor and output combinations the firm may choose for its output on a daily basis.

-Refer to Table 18-2.What is the marginal product of the third unit of labor?

Question

Table 18-2
The following table shows the production function for a particular business.The numbers represent the various labor and output combinations the firm may choose for its output on a daily basis.
 
-Refer to Table 18-2.What is the marginal product of the third unit of labor?

Quizplus · Accepted Answer

The marginal product of labor is the additional output produced by adding one more unit of labor while holding all other inputs constant. In this case, the marginal product of the third unit of labor is the difference between the total output with three units of labor and the total output with two units of labor, which is 150 - 100 = 50 units. Therefore, choice B is the correct answer.

Table 18-2 The Following Table Shows the Production Function for a Particular