Consider a production process where flowers are grown (the output) using gardeners (labor) and greenhouses (capital). The quantity of flowers grown per day with various combinations of labor and capital are shown in the table. Fill in the marginal product of labor in the table below. (Enter your responses as integers.)
Consider a production process where flowers are grown (the output) using gardeners (labor) and greenhouses (capital). The quantity of flowers grown per day with various combinations of labor and capital are shown in the table. Fill in the marginal product of labor in the table below. (Enter your responses as integers.)
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 15P
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Question
Consider a production process where flowers are grown (the output) using gardeners (labor) and greenhouses (capital). The quantity of flowers grown per day with various combinations of labor and capital are shown in the table.
Fill in the marginal product of labor in the table below. (Enter your responses as integers.)
Labor
|
Capital
|
Output
|
Marginal Product of Labor
|
0
|
1
|
0
|
-
|
1
|
1
|
120
|
|
2
|
1
|
360
|
|
3
|
1
|
480
|
|
4
|
1
|
540
|
|
5
|
1
|
570
|
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