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Question 1

The table below shows data for the production of Apples for an individual firm.

Number of workersNumber of Apples
00
140
272
396
4112
5120

Given this data, what is the marginal product of labor when quantity increases from 3 by one unit?

 

Hint




Question 2

The table below shows data for the production of Apples for an individual firm.

Number of workersNumber of Apples
00
1050
2090
30120
40140
50150

Given this data, what is marginal product of labor when quantity increases from 20 by ten units?

 

Hint




Question 3

The table below shows data for the production of Oranges for an individual firm operating in a perfectly competitive market. Suppose that the price of Oranges is $1.

Number of workersNumber of Oranges
00
10100
20180
30240
40280
50300
Given this data, complete the table:



 Quantity of Oranges  Marginal Product of Labor (MPL) Value of the Marginal Product of Labor (VMPL)
0 - -
10
20
30
40
50


Hint