Table 18-4
Consider the following daily production data for Wills Golf Balls.Wills sells golf balls for $2.50 cents each and pays the workers a wage of $325 per day.

-Refer to Table 18-4.What is the third worker's marginal product of labor?

Question

Table 18-4
Consider the following daily production data for Wills Golf Balls.Wills sells golf balls for $2.50 cents each and pays the workers a wage of $325 per day.
 
-Refer to Table 18-4.What is the third worker's marginal product of labor?

Quizplus · Accepted Answer

The marginal product of labor is the additional output produced by adding one more worker. If the third worker's marginal product is 160 golf balls, it means that the addition of the third worker increased the total output by 160 golf balls compared to when there were only two workers.

Table 18-4 Consider the Following Daily Production Data for Wills Golf Balls.Wills