20 of 25 (17 co ext Problem 22-20 Consider the figures to the right. If the firm

Question

20 of 25 (17 co ext Problem 22-20 Consider the figures to the right. If the firm were to employ an 8th unit of labor, its total product would rise to 385 units of output from 360 units of output. What would be the resulting values of the average product of labor and of the marginal product of labor? The average product of labor would be units of output per unit of labor and the marginal product of labor would be units of output per unit of labor. (Enter your responses rounded to one decimal place.)

Explanation / Answer

Total output at 8 workers: 385 Total output at 7 workers: 360 Marginal Output: Total output at 8th -Total output at 7th 385 -360 = 25 units Average output: Total output of 8 workers/ Total workers 385 / 8 workers = 48.125 units

Related Questions

Navigate

• Browse (All)
• Browse 2
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.