Refer to the following table to answer the following questions:

-If the price of output is $5,the value of the marginal product of labor of the third worker is
A) $8.
B) $30.
C) $40.
D) $38.
E) $190.

Question

Refer to the following table to answer the following questions:

-If the price of output is $5,the value of the marginal product of labor of the third worker is
A) $8. 
B) $30. 
C) $40. 
D) $38. 
E) $190.

Quizplus · Accepted Answer

The value of the marginal product of labor is calculated by multiplying the marginal product of labor by the price of the output. If the marginal product of the third worker is 8 units, then 8 units * $5 = $40.

Refer to the Following Table to Answer the Following Questions