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Question 1

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

Number of workersNumber of Avocados
00
120
236
348
456
560

Given this data, what is the marginal product of labor when quantity increases from 4 by one unit?

 

Hint




Question 2

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

Number of workersNumber of Avocados
00
1010
2018
3024
4028
5030

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 Apples for an individual firm operating in a perfectly competitive market. Suppose that the price of Apples is $3.

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



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


Hint