Table 11.2
$$\begin{array} { | c | c | c | c | c | }
\begin{array} { c }
\text { Workers } \
\text { per Day }
\end{array} & \text { Total Product } & \text { Marginal Product } & \begin{array} { c }
\text { Total } \
\text { Revenue } \
( \$ )
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { Revenue } \
\text { Froduct } ( \$ )
\end{array} \
\hline 0 & 0 & - & 0 & - \
\hline 1 & 100 & & 1,000 & 1,000 \
\hline 2 & & 95 & 1,950 & 950 \
\hline 3 & 285 & 90 & & 900 \
\hline 4 & 370 & & 3,700 & 850 \
\hline 5 & & 80 & 4,500 & 800 \
\hline
\end{array}$$
-Refer to Table 11.2,which shows the product price of a perfectly competitive firm and the output produced by the firm.The marginal product of the fourth worker is _____
A)$10.
B)$2,850.
C)85 units.
D)$900.
E)450 units.

Question

Table 11.2
 $$\begin{array} { | c | c | c | c | c | } 
\begin{array} { c } 
\text { Workers } \
\text { per Day }
\end{array} & \text { Total Product } & \text { Marginal Product } & \begin{array} { c } 
\text { Total } \
\text { Revenue } \
( \$ )
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Revenue } \
\text { Froduct } ( \$ )
\end{array} \
\hline 0 & 0 & - & 0 & - \
\hline 1 & 100 & & 1,000 & 1,000 \
\hline 2 & & 95 & 1,950 & 950 \
\hline 3 & 285 & 90 & & 900 \
\hline 4 & 370 & & 3,700 & 850 \
\hline 5 & & 80 & 4,500 & 800 \
\hline
\end{array}$$
-Refer to Table 11.2,which shows the product price of a perfectly competitive firm and the output produced by the firm.The marginal product of the fourth worker is _____
A)$10.
B)$2,850.
C)85 units.
D)$900.
E)450 units.

Quizplus · Accepted Answer

The marginal product of labor is the additional output produced from hiring one more unit of labor. Looking at the table, we can see that the marginal product of the 4th worker is 80 units (the difference between the total product of 370 units with 3 workers and 285 units with 2 workers). Therefore, the answer is (C) 85 units which is not provided in the options.

Table 112 -Refer to Table 11