Use Table: Employment and Output. In the table, if the price of a bushel of wheat is $10, then the value of the marginal product of the third worker is: Select one: a. $15. b. $510. c. $150. d. $170.
Use Table: Employment and Output. In the table, if the price of a bushel of wheat is $10, then the value of the marginal product of the third worker is: Select one: a. $15. b. $510. c. $150. d. $170.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter24: The Aggregate Demand/aggregate Supply Model
Section: Chapter Questions
Problem 46CTQ: Hydraulic fracturing (tracking) has the potential to significantly increase the amount of natural...
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Table: Employment and Output
Quantity of Labor (workers) |
Quantity of Wheat (bushels) |
Marginal Product of Labor (bushels per worker) |
---|---|---|
0 | 0 | |
19 | ||
1 | 19 | |
17 | ||
2 | 36 | |
15 | ||
3 | 51 | |
13 | ||
4 | 64 | |
11 | ||
5 | 75 | |
9 | ||
6 | 84 | |
7 | ||
7 | 91 | |
5 | ||
8 | 96 |
Reference: Ref 19-4 Table: Employment and Output
(Table: Employment and Output) Use Table: Employment and Output. In the table, if the price of a bushel of wheat is $10, then the value of the marginal product of the third worker is:
Select one:
a. $15.
b. $510.
c. $150.
d. $170.
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