In Table B, what is the marginal product of labor for the 3rd worker? A) 25 sand

Question

In Table B, what is the marginal product of labor for the 3rd worker?
A) 25 sandwiches
B) 8 sandwiches
C) 12 sandwiches
D) 14 sandwiches
9.
In Table B, diminishing MPL begins with which worker? In other words, which is the first worker who adds less output than the previous worker?
A) first worker
B) second worker
C) third worker
D) fourth worker
E) fifth worker
F) sixth worker
G) seventh worker
H) eighth worker
I) we do not see diminishing MPL in the table yet.
10.
In Table B, assume all workers get paid the same wage rate of w = $80. Assume that there are no costs associated with capital (TFC = 0). Which of the following is true?
A) The marginal cost of sandwiches made by the 6th worker is $4.
B) The marginal cost of sandwiches increases when L increases from 3 to 4
C) The marginal cost of sandwiches increases when L increases from 6 to 7
D) The marginal cost of all sandwiches is the same.
E) Both [A] and [D] are true.
11.
In Table B, assume all workers get paid the same wage rate of w = $60. Assume that there are no costs associated with capital (TFC = 0). The lowest marginal cost of output is associated with how many workers employed?
A) 4 workers
B) 5 workers
C) 6 workers
D) 7 workers

Explanation / Answer

Answer for first question

25 - 13 = 12

Second question

Option F, The sixth worker starts giving diminishing MPL

Third

option C

Fourth

Option B, 5 workers

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

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