Table 7.2
$$\begin{array} { c c }
\text { Labor } & \begin{array} { c }
\text { Total Froduct } \
\text { (pairs of shoes) }
\end{array} \
\hline 0 & 0 \
1 & 20 \
2 & 50 \
3 & 75 \
4 & 80 \
5 & 75
\end{array}$$
-Refer to Table 7.2,which shows labor and the quantity of shoes produced by a firm.What is the marginal product of the third unit of labor?
A)45 pairs of shoes
B)25 pairs of shoes
C)15 pairs of shoes
D)75 pairs of shoes
E)50 pairs of shoes

Question

Table 7.2
 $$\begin{array} { c c } 
\text { Labor } & \begin{array} { c } 
\text { Total Froduct } \
\text { (pairs of shoes) }
\end{array} \
\hline 0 & 0 \
1 & 20 \
2 & 50 \
3 & 75 \
4 & 80 \
5 & 75
\end{array}$$
-Refer to Table 7.2,which shows labor and the quantity of shoes produced by a firm.What is the marginal product of the third unit of labor?
A)45 pairs of shoes
B)25 pairs of shoes
C)15 pairs of shoes
D)75 pairs of shoes
E)50 pairs of shoes

Quizplus · Accepted Answer

The marginal product of the third unit of labor is the additional output produced by the third worker, calculated as the difference in total product when the third worker is added. From the table, the total product increases from 50 pairs (with 2 workers) to 75 pairs (with 3 workers), which is an increase of 25 pairs. Therefore, the marginal product of the third unit of labor is 25 pairs of shoes.

Table 72 -Refer to Table 7