Question

See the table below. Some of the MPL values are missing, and youll have to fill in the MC column. Fill in the MC column when

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer

marginal product of n th worker =total output of n workers - total output of n-1 workers
MP(n)=TP(n)-TP(n-1)
MPL(4)=40-30=10 and so on

MC=wage /MPL

MC(5)=10/5=$2

MC(15)=10/10=$1 and so on

L TP MPL MC
0 0
1 5 5 2
2 15 10 1
3 30 15 0.67
4 40 10 1
5 45 5 2
6 49 4 2.5
7 51 2 5
Add a comment
Know the answer?
Add Answer to:
See the table below. Some of the MPL values are missing, and you'll have to fill...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT