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Question 1

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

Number of workersNumber of Bags
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 Oranges for an individual firm.

Number of workersNumber of Oranges
00
1020
2036
3048
4056
5060

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 Jackets for an individual firm operating in a perfectly competitive market. Suppose that the price of Jackets is $9.

Number of workersNumber of Jackets
00
1020
2036
3048
4056
5060
Given this data, complete the table:



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


Hint