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Chapter 28: Q.16 (page 647)

Consider Figure 28-1, and suppose that the firm is contemplating 14 units of labor, and it knows that doing so would cause its total production to increase to 4,075 units. What would be the resulting marginal product of the 14th unit of labor employed?

Short Answer

Expert verified

The resulting marginal product is150units

Step by step solution

01

Introduction

The marginal product of information, say work, is characterized as the additional result that outcomes from adding one unit of the contribution to the current blend of useful elements.

02

Explanation

The marginal labour of product is calculated using,

MP=螖TP螖L

MP=4075鈭�39251MP=150

The resulting marginal product is 150units.

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Most popular questions from this chapter

The following table depicts the product market and labor market a digital device manufacturer faces.

a. Calculate the firm's marginal product, total revenue, and marginal revenue product at each input level above 10units.

b. The firm competes in a perfectly competitive labor market, and the market wage it faces is $100per worker per day. How many workers will the profit-maximizing employer hire?

If clothing manufacturers were to substitute robotic sewing machines for human labor, would you anticipate that the prices of these two resources would remain unchanged? Explain your reasoning.

28-8. A firm hires labor in a perfectly competitive labor market. Its current profit-maximizing hourly output is 100units, which the firm sells at a price of \(5per unit. The marginal produce of the last unit of labor employed is 5units per hour. The firm pays each worker an hourly wage of \)15.

a. What marginal revenue does the firm earn, from the sale of the output produced by the last worker employed?

b. Does this firm sell its output in a perfectly competitive market?

Take a look at the two panels of Figure 28-5. Explain why at the points labeled E1, U.S. firms might have an incentive to outsource labor services abroad. In addition, explain why the shifts in the demand curves to the positions denoted D2 occur in each panel.

The following table depicts the output of a firm that manufactures computer printers. The printers sell for $100each.

Labor Input

(workers per week)


 Total Output
( printers per week)
10 200
11 218
12 234
13 248
14 260
15 270
16 278

Calculate the marginal product and marginal revenue product at each input level above 10 units.
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