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 fourth unit of labor?
A)5 pairs of shoes
B)10 pairs of shoes
C)20 pairs of shoes
D)50 pairs of shoes
E)80 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 fourth unit of labor?
A)5 pairs of shoes
B)10 pairs of shoes
C)20 pairs of shoes
D)50 pairs of shoes
E)80 pairs of shoes

Quizplus · Accepted Answer

The marginal product of the fourth unit of labor is the additional output produced by the fourth worker, calculated as the difference in total product when the fourth worker is added. From the table, the total product increases from 75 pairs (with 3 workers) to 80 pairs (with 4 workers), which is an increase of 5 pairs of shoes.

Table 72 -Refer to Table 7