The following question are based on the following information:
A firm uses inputs of labor, fertilizer, and land to produce strawberries (which are sold to wholesalers and processors). The quantity of land used is fixed at eight acres per season and the production function implies the relationships in the following table:

-The average product of the fourth unit of labor is ________ bushels.
A) 1,000
B) 2,000
C) 3,100
D) 3,500
E) 4,000

Question

The following question are based on the following information:
A firm uses inputs of labor, fertilizer, and land to produce strawberries (which are sold to wholesalers and processors). The quantity of land used is fixed at eight acres per season and the production function implies the relationships in the following table:
 
-The average product of the fourth unit of labor is ________ bushels.
A) 1,000 
B) 2,000 
C) 3,100 
D) 3,500 
E) 4,000

Quizplus · Accepted Answer

The average product of the fourth unit of labor is 3,500 bushels. This is calculated by dividing the total output of 14,000 bushels by the number of units of labor used, which is 4.

The Following Question Are Based on the Following Information