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Question 1

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

Number of workersNumber of Oranges
00
1150
2270
3360
4420
5450

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 Bags for an individual firm.

Number of workersNumber of Bags
00
10100
20180
30240
40280
50300

Given this data, what is marginal product of labor when quantity increases from 30 by ten units?

 

Hint




Question 3

The table below shows data for the production of Pineapples for an individual firm operating in a perfectly competitive market. Suppose that the price of Pineapples is $5.

Number of workersNumber of Pineapples
00
1010
2018
3024
4028
5030
Given this data, complete the table:



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


Hint