Examine the table below. What is the value of the marginal product of the second unit of labor? Value of Units of Quantity Product Factor Xof Output Price Marginal Product 0 100 $10 1 190 $10 2 270 $10 340 $10 400 $10 3 4

Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter19: Labor And Entrepreneurship: The Human Inputs
Section: Chapter Questions
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Question 54
Examine the table below. What is the value of the marginal product of the second unit of labor?
Units of Quantity Product
Factor Xof Output Price
Value of
Marginal
Product
0
100 $10
190 $10
$10
340 $10
400 $10
1
2
3
4
O $80
$2700
$800
O $270
8888
270
Transcribed Image Text:Question 54 Examine the table below. What is the value of the marginal product of the second unit of labor? Units of Quantity Product Factor Xof Output Price Value of Marginal Product 0 100 $10 190 $10 $10 340 $10 400 $10 1 2 3 4 O $80 $2700 $800 O $270 8888 270
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