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Question 1

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

Number of workersNumber of Jackets
00
1100
2180
3240
4280
5300

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 Pineapples for an individual firm.

Number of workersNumber of Pineapples
00
10100
20180
30240
40280
50300

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 Textbooks for an individual firm operating in a perfectly competitive market. Suppose that the price of Textbooks is $8.

Number of workersNumber of Textbooks
00
1090
20162
30216
40252
50270
Given this data, complete the table:



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


Hint