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L K Q MPL VMPL Wage MP Q/L FC K TOTAL VC #Worker hired TC FC+VC TR Profit 0 4 1 4 20 20 $80
| L | K | Q | MPL | VMPL | Wage | MP Q/L | FC K TOTAL | VC #Worker hired | TC FC+VC | TR | Profit |
| 0 | 4 | ||||||||||
| 1 | 4 | 20 | 20 | $80 | $20 | $60 | $20 | $20 | $40 | $80 | $40 |
| 2 | 4 | 37 | 17 | $68 | $20 | $48 | $20 | $40 | $60 | $148 | $88 |
| 3 | 4 | 51 | 14 | $56 | $20 | $36 | $20 | $60 | $80 | $204 | $124 |
| 4 | 4 | 62 | 11 | $44 | $20 | $24 | $20 | $80 | $100 | $248 | $148 |
| 5 | 4 | 70 | 8 | $32 | $20 | $12 | $20 | $100 | $120 | $280 | $160 |
| 6 | 4 | 75 | 5 | $20 | $20 | $0 | $20 | $120 | $140 | $300 | $160 |
| 7 | 4 | 77 | 2 | $8 | $20 | $-12 | $20 | $140 | $160 | $308 | $148 |
| 8 | 4 | 76 | -1 | $-4 | $20 | $-24 | $20 | $160 | $180 | $304 | $124 |
How are they getting the MP numbers are they right?
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There are 3 Steps involved in it
Step: 1
Answer To understand how the Marginal Product of Labor MPL values are calculated in the provided tab...
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Step: 2
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Statistics
Authors: Robert S. Witte, John S. Witte
11th Edition
1119254515, 978-1119254515
