Asked by Huong Thanh on Jun 16, 2024

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Let L represent the number of workers hired by a firm, and let Q represent that firm's quantity of output. Assume two points on the firm's production function are (L = 12, Q = 122) and (L = 13, Q = 130) . Then the marginal product of the 13th worker is

A) 8 units of output.
B) 10 units of output.
C) 122 units of output.
D) 132 units of output.

Marginal Product

The marginal product is the additional output resulting from a one-unit increase in the use of a variable input, holding all other inputs constant, in the production process.

Units of Output

The measure of total production or services produced by a company or sector.

Workers

Individuals engaged in any form of employment or labor, including both physical and intellectual efforts, contributing to the production process.

  • Attain comprehension regarding the marginal product of labor and its relationship with the production function.
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JH
Joshua HalonaJun 22, 2024
Final Answer :
A
Explanation :
The marginal product of the 13th worker is calculated by the increase in output from hiring one more worker, which is 130 - 122 = 8 units of output.