Assume the total product of two workers is 100 and the total product of three workers is 120. The average product of three workers is , and the marginal product of the third worker is .

A) 40; 20
B) 20; 100
C) 13.33; 6.67
D) 120; 100

Question

Assume the total product of two workers is 100 and the total product of three workers is 120. The average product of three workers is ________, and the marginal product of the third worker is ________.

A) 40; 20
B) 20; 100
C) 13.33; 6.67
D) 120; 100

Valerie Huffman · Accepted Answer

Final Answer : A, Explanation :  The average product of three workers is the total product divided by the number of workers, which is 120/3 = 40. The marginal product of the third worker is the increase in total product from adding the third worker, which is 120 - 100 = 20.

Assume the total product of two workers is 100 and the total product of three workers is 120. The average product of three workers is , and the marginal product of the third worker is .

A) 40; 20
B) 20; 100
C) 13.33; 6.67
D) 120; 100

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Learning Objectives

Related questions

Assume the total product of two workers is 100 and the total product of three workers is 120. The average product of three workers is ________, and the marginal product of the third worker is ________.A) 40; 20B) 20; 100C) 13.33; 6.67D) 120; 100

Definitions

Learning Objectives

Learning Objectives

Related questions

Assume the total product of two workers is 100 and the total product of three workers is 120. The average product of three workers is , and the marginal product of the third worker is .

A) 40; 20
B) 20; 100
C) 13.33; 6.67
D) 120; 100