If output expands from 150 units to 175 units when 5 more units of labor are...

Question

Question

If output expands from 150 units to 175 units when 5 more units of labor are hired (no change in equipment), what is the marginal product of labor?

Answer 1

Answer #1

The marginal product of labor = Change in output/change in labor

= (175-150)/5

= 25/5

= 5

Answer 2

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