According to the table below, what is the marginal product of the fourth unit of labor?...

Question

Question

Answer 1

Answer #1

Answer

The correct answer is (c) 90 units of output.

Marginal Product of labor is the additional output produced when we hire one additional unit of labor.

Mathematically, MP(L) = TP(L) - TP(L - 1)

where MP(L) = Marginal product of Lth unit of labor, TP(L) = Total Product when L units of worker are hired

Thus, Marginal product of 4th unit of Labor = MP(4) and using above formula we have :

Marginal product of 4th unit of Labor = MP(4) = TP(4) - TP(3).

Using above table we have :

Marginal product of 4th unit of Labor = MP(4) = TP(4) - TP(3) = 320 - 230 = 90

Hence, Marginal product of fourth unit of labor = 90 units of output.

Hence, the correct answer is (c) 90 units of output.

Answer 2

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