Use the following to answer question:
-(Figure: The Total Product) Use Figure: The Total Product.When L₂ labor is hired,the total product is at a _____ and the marginal product of labor is _____.

Question

Use the following to answer question:

-(Figure: The Total Product) Use Figure: The Total Product.When L₂ labor is hired,the total product is at a _____ and the marginal product of labor is _____.

Quizplus · Accepted Answer

At the point where the total product is at its maximum, the marginal product of labor is zero. This is because the total product curve has reached its peak, indicating that adding more labor will not increase the total output, hence the marginal product, which measures the change in output from an additional unit of labor, is zero.

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