If the product charge is $2 in line with unit, the cost of the marginal product for the 5th unit of exertions is: d) $40.
The required details for marginal product in given paragraph
The marginal product or marginal bodily productiveness of an enter (aspect of production) is the extrude in output because of using one greater unit of a specific enter (for instance, the extrude in output while a firm's exertions is extended from 5 to 6 units), assuming that the portions of different inputs are stored constant. the marginal product first of all will increase while greater of an enter (say exertions) is employed, maintaining the opposite enter (say capital) constant. Here, exertions is the variable enter and capital is the constant enter (in a hypothetical two-inputs model). As an increasing number of of variable enter (exertions) is employed, marginal product begins off evolved to fall.
Finally, after a sure point, the marginal product turns into negative, implying that the extra unit of exertions has decreased the output, in place of growing it. The cause in the back of that is the diminishing marginal productiveness of exertions.
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Complete question
(Table 69-4: Value of the Marginal Product of Labor and Demand) If the product price is $2 per unit, the value of the marginal product for the fifth unit of labor is:
a) $0.
b) $280.
c) $20.
d) $40.
e) $60.
