Use the following to answer questions :
-(Table: Employment and Output)Use Table: Employment and Output.In the table,if the price of a kilogram of wheat is $10,then the value of the marginal product of the third worker is:
A) $15.
B) $150.
C) $170.
D) $510.

Question

Use the following to answer questions : 
-(Table: Employment and Output)Use Table: Employment and Output.In the table,if the price of a kilogram of wheat is $10,then the value of the marginal product of the third worker is:
A) $15. 
B) $150. 
C) $170. 
D) $510.

Quizplus · Accepted Answer

The value of the marginal product of a worker equals the product of the marginal product of labor and the price of the output. For the third worker, the marginal product of labor is 15 kilograms of wheat (from the table) and the price of wheat is $10. Therefore, the value of the marginal product of the third worker is 15 * $10 = $150.

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