Fill in the below table, the wage equals AED 300 for each worker. In addition, each unit of output is sold at a price of AED 10. Number of workers Total Output Marginal Product of Labor (MPL) Value of Marginal Product of Labor VMPL = P x MPL Wage per Worker W Profit Margin (PM)PM=VMPL-Wage 0 0 - - - - 1 60 300 2 110 300 3 150 300 4 180 300 5 200 300 6 210 300
Fill in the below table, the wage equals AED 300 for each worker. In addition, each unit of output is sold at a price of AED 10. Number of workers Total Output Marginal Product of Labor (MPL) Value of Marginal Product of Labor VMPL = P x MPL Wage per Worker W Profit Margin (PM)PM=VMPL-Wage 0 0 - - - - 1 60 300 2 110 300 3 150 300 4 180 300 5 200 300 6 210 300
Chapter10: Labor Markets And Income Distribution
Section: Chapter Questions
Problem 3SQP
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Question
Fill in the below table, the wage equals AED 300 for each worker. In addition, each unit of output is sold at a price of AED 10.
Number of workers |
Total Output |
Marginal Product of Labor (MPL) |
Value of Marginal Product of Labor VMPL = P x MPL |
Wage per Worker W |
Profit Margin (PM)PM=VMPL-Wage |
0 |
0 |
- |
- |
- |
- |
1 |
60 |
|
|
300 |
|
2 |
110 |
|
|
300 |
|
3 |
150 |
|
|
300 |
|
4 |
180 |
|
|
300 |
|
5 |
200 |
|
|
300 |
|
6 |
210 |
|
|
300 |
|
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