Table 7-4 shows the quantities of labor and capital required to produce various levels of output.

Refer to Table 7-4.What is the marginal product of the fourth worker?
A)10
B)14
C)42
D)56

Question

Table 7-4 shows the quantities of labor and capital required to produce various levels of output.

Refer to Table 7-4.What is the marginal product of the fourth worker?
A)10 
B)14 
C)42 
D)56

Quizplus · Accepted Answer

The marginal product of labor is calculated as the change in output resulting from an additional unit of labor. Therefore, to calculate the marginal product of the fourth worker, we need to determine the change in output resulting from adding the fourth worker.

When there are three workers, the total output is 70. When there are four workers, the total output is 84. Therefore, the change in output resulting from adding the fourth worker is 14 units.

Hence, the marginal product of the fourth worker is 14. Therefore, the best choice for the first question is B.

Table 7-4 Shows the Quantities of Labor and Capital Required