Answer to Question #199244 in Microeconomics for Donna

Question

Marginal product of labour - question says output is 20 but that number is not listed in the table of output per period. So no corresponding labour per period noted. How do i find mp without this number? First economics course! Sorry!

Answer 1

Since the marginal product of labor is given by the change in output per period divided by the change in labor, and here whatever we have been given is only the output, no value for labor, we assume that labor is equal to zero. Now we take 20 -(the value on top of this output 20) divided by 0-(value on top of this labor 0). You have to fix the values in the table initially given and work out normally from that point.