Use the following to answer questions :
Table 6-1
-Suppose that production is defined by the function recorded in the table above.The marginal product of the 4th unit of labor, given 20 units of land, is equal to:
A)15.5
B)17.5
C)19.0
D)1.5
E)none of the above

Question

Use the following to answer questions :
Table 6-1 
-Suppose that production is defined by the function recorded in the table above.The marginal product of the 4th unit of labor, given 20 units of land, is equal to:
A)15.5 
B)17.5 
C)19.0 
D)1.5 
E)none of the above

Quizplus · Accepted Answer

To find the marginal product of the 4th unit of labor, we need to look at the change in output when we add one more unit of labor, given that we already have 3 units of labor and 20 units of land. Looking at the table, we see that when we move from 3 units to 4 units of labor, the output increases from 72 to 89.5 units, which means the marginal product of the 4th unit of labor is (89.5 - 72) = 17.5 units. Therefore, the answer is B)17.5.

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