Question 7 (1 point)

Retake question

Holding capital fixed at K=2 units, the firm's production table shows when labor units (L) = 1, output (Q)=5; L=2, Q=11; L=3, Q=16; L=4, Q=20; L=5, Q=22. Also, the firm can sell each unit of output at a price P=$2. If so, the marginal product of labor MPL for the 4th unit of labor is ____.

Question 7 options:

a)

20

b)

8

c)

16

d)

4