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Given the production table of a firm, calculate the answer for each question below. Labor input # of workers Total product of labor Marginal Product
Given the production table of a firm, calculate the answer for each question below.
| Labor input # of workers | Total product of labor | Marginal Product of Labor | Average product of labor | |
| 0 | 0 | - | - | |
| 1 | 6 | 6 | 6 | |
| 2 | 16 | 8 | ||
| 3 | 13 | 9.67 | ||
| 4 | 44 | |||
| 5 | 11 | 11 | ||
| 6 | 60 | 5 | ||
| 7 | 62 | 8.86 | ||
| 8 | 0 | 7.75 | ||
| 9 | 61 | -1 | ||
| 10 | -2 | 5.9 |
What is the marginal product of the 4th worker in this firm?
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Math For Business And Finance An Algebraic Approach
Authors: Jeffrey Slater, Sharon Wittry
1st Edition
0077639626, 9780077639624
