Consider the following production and cost schedule for a firm.The first column shows the number of units of a variable factor of production employed by the firm.
TABLE 13-1
-Refer to Table 13-1.The marginal product of the 12th unit of the factor of production is
A)4.
B)14.
C)20.
D)44.
E)64.

Question

Consider the following production and cost schedule for a firm.The first column shows the number of units of a variable factor of production employed by the firm.
  TABLE 13-1
-Refer to Table 13-1.The marginal product of the 12th unit of the factor of production is
A)4. 
B)14. 
C)20. 
D)44. 
E)64.

Quizplus · Accepted Answer

The marginal product is the additional output produced by adding one more unit of a factor of production. The 12th unit's marginal product is calculated by subtracting the total output at 11 units from the total output at 12 units, which is 20.

Consider the Following Production and Cost Schedule for a Firm