20 - is correct
Marginal physical product is the difference between output at two levels of labor unit.
Marginal physical product = 35-15= 20
Table 211 Units of Labor Units of Output | 15 35 2 What is the marginal...
Question 1 1 pts Labor Total product Marginal (workers per day) (units per day) product 2 8 12 3 5 In the above table, the marginal product of the second worker is 3 5 Oo oo Question 2 1 pts Labor Total product |(workers per day) (units per day) 0 0 2 Marginal product 0 2 8 3 12 T In the above table, the total product that can be produced with four workers is O 16 Ο Ο Ο...
2. You are given the following information: Hours of labor Units of output Marginal product 15 a) Complete the table. b) Show that the production process is subject to diminishing returns. c) Find the optimal level of labor, if output sells for $20 per unit and labor costs $40 per hour. 3. A perfectly competitive manufacturer of tires has the following cost functions: Total cost = C = 100 + 25Q+Q2 and Marginal cost = MC = 25 + 20...
According to the table below, what is the marginal product of the fourth unit of labor? Quantity of labor Total Product 230 320 400 465 525 575 Impossible to determine from the given information 320 units of output 90 units of output 80 units of output
Wage Table 17-2 Quantity of Output of iPods per Marginal Product of Product Price Labor Week Labor (dollars) $300 280 260 240 220 200 180 (dollars) $350 350 350 350 350 350 350 Refer to Table 17-2. What is the profit-maximizing quantity of labor that the firm should hire? 5 units 4 units 3 units 2 units
Exhibit 27-5 Units of Quantity of Output Marginal Revenue Labor 0 0 $6 1 100 6 2 180 6 زر 250 6 4 310 6 5 330 6 Refer to Exhibit 27-5. Marginal physical product of the fourth unit of labor equals 60. equals 40. equals 24. equals 310. cannot be determined.
IV. (15 Points) Given: • A schedule of output amounts that can be produced per various units of labor. • A dollar rate for each unit used of labor of $15.00/unit. • The market price (marginal revenue) of $3.00 for each unit sold. a. Using the chart below determine: The Marginal Product of Labor (MPL) at each level of Total Output shown. • The Marginal Revenue Product of Labor (MRPL) at each level of Total Output shown. b. How many...
26. Exhibit 22-14 Quantity of Labor Output Marginal Physical Product (MPP) Wage Marginal Cost 0 0 1 100 (C) $600 (E) 2 (A) 75 600 (F) 3 (B) 50 600 (G) 4 240 (D) 600 (H) Assume that labor is the only variable input and that each additional laborer is paid $600. Refer to Exhibit 22-14. What is the MPP of the first unit of labor [blank (C)]? a. 50 units b. 100 units c. 600 units d. 700...
Table 13-2 Number of Total Marginal Workers Output Product 300 500 600 1650 Refer to Table 13-2. What is the marginal product of the second worker? O 300 units. 50 units. 100 units. 200 units.
(15.P) The following table gives the quantities of output that can be produced with different amounts of capital and labor utilized by a firm. Units of K Units of Output 122 174 213 244 274 (300 5 112, 158/194 224 250 274 4 100 142 173 200 224 244 87 122 150 173 194 213 142 158 174 6 Idol 50 100 112 122 Units 3) 4 5 . 6 of a. What are the returns to scale for this...
3. If Marginal Product of Labor is 10 when we have only one unit of labor and then we hire one additional unit of labor who produces 20 units of output. What is the Marginal Product of the second person we hire?