Table 30.1 $$\begin{array} { | c | r | c | c | c | }
\hline \begin{array} { c }
\text { Number of } \
\text { workers (per } \
\text { hour) }
\end{array} & \begin{array} { c }
\text { Total output } \
\text { (per hour) }
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { physical } \
\text { product } \
\text { (output per } \
\text { worker) }
\end{array} & \begin{array} { c }
\text { Total revenue } \
\text { (dollars per } \
\text { hour) }
\end{array} & \begin{array} { c }
\text { Marginal revenue } \
\text { product (dollars } \
\text { per hour worker) }
\end{array} \
\hline 1 & 4 & \ldots & & \ldots \
\hline 2 & 19 & & \
\hline 3 & 15 & & \
\hline 4 & 19 & & \
\hline 5 & 22 & & \
\hline
\end{array}$$ Assume that the product price is $4 per unit and that the hourly wage for workers is $12.Neither price nor wage changes with output.In Table 30.1,the marginal physical product of the third worker hired is
A)15 units per hour.
B)4 units per hour.
C)3 units per hour.
D)5 units per hour.

Question

Table 30.1 $$\begin{array} { | c | r | c | c | c | } 
\hline \begin{array} { c } 
\text { Number of } \
\text { workers (per } \
\text { hour) }
\end{array} & \begin{array} { c } 
\text { Total output } \
\text { (per hour) }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { physical } \
\text { product } \
\text { (output per } \
\text { worker) }
\end{array} & \begin{array} { c } 
\text { Total revenue } \
\text { (dollars per } \
\text { hour) }
\end{array} & \begin{array} { c } 
\text { Marginal revenue } \
\text { product (dollars } \
\text { per hour worker) }
\end{array} \
\hline 1 & 4 & \ldots & & \ldots \
\hline 2 & 19 & & \
\hline 3 & 15 & & \
\hline 4 & 19 & & \
\hline 5 & 22 & & \
\hline
\end{array}$$ Assume that the product price is $4 per unit and that the hourly wage for workers is $12.Neither price nor wage changes with output.In Table 30.1,the marginal physical product of the third worker hired is
A)15 units per hour.
B)4 units per hour.
C)3 units per hour.
D)5 units per hour.

Quizplus · Accepted Answer

The marginal physical product (MPP) of the third worker is calculated by subtracting the total output before the third worker was hired (19 units from 2 workers) from the total output after the third worker was hired (15 units from 3 workers). However, there seems to be a mistake in the table as the total output decreases when the third worker is added, which is unusual for calculating MPP. Assuming a typo and the correct progression of output, the MPP for the third worker should be the difference in output between the second and third workers. If we correct the output for three workers to a number that makes sense given the context (e.g., increasing output), such as 24 units (assuming a typo and a logical increase from 19 units), the MPP for the third worker would be 5 units (24 - 19 = 5). However, without the correct figures, based on the provided table, no calculation can accurately determine the MPP for the third worker as the output incorrectly decreases. Therefore, the answer is chosen based on the assumption of a typo and the typical behavior of increasing output with additional workers.

Table 301 Assume That the Product Price Is $4 Per Unit and |