Labor Marginal Variable Fixed Output Product Cost Cost 0 0 $0 $10 1 200 200 $20 $10 2 350 3 450 4 5 6 530 $40 $10 $60 $10 50 50 $80 $10 25 $100 $10 $120 $10 Refer to Table 14-14. What is the marginal product of the sixth worker?
Labor Marginal Variable Fixed Output Product Cost Cost 0 0 $0 $10 1 200 200 $20 $10 2 350 3 450 4 5 6 530 $40 $10 $60 $10 50 50 $80 $10 25 $100 $10 $120 $10 Refer to Table 14-14. What is the marginal product of the sixth worker?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter26: Factor Markets: With Emphasis On The Labor Market
Section26.1: Factor Markets
Problem 2ST
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Transcribed Image Text:Labor
Marginal
Variable
Fixed
Output
Product
Cost
Cost
0
0
$0
$10
1
200
200
$20
$10
2
350
3
450
4
5
6
530
$40
$10
$60
$10
50
50
$80
$10
25
$100
$10
$120
$10
Refer to Table 14-14. What is the marginal product of the sixth worker?
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