The table below shows data for the production of Avocados for an individual firm operating in a perfectly competitive market. Suppose that the price of Avocados is $3. Number of workers Number of Avocados 0 0 10 150 20 270 30 360 40 420 50 450 Given this data, complete the table: Quantity of avocados Marginal Product of Labor (MPL) Value of the Marginal Product of Labor (VMPL)
The table below shows data for the production of Avocados for an individual firm operating in a perfectly competitive market. Suppose that the price of Avocados is $3. Number of workers Number of Avocados 0 0 10 150 20 270 30 360 40 420 50 450 Given this data, complete the table: Quantity of avocados Marginal Product of Labor (MPL) Value of the Marginal Product of Labor (VMPL)
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter18: The Markets For The Factor Of Production
Section: Chapter Questions
Problem 2CQQ
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- The table below shows data for the production of Avocados for an individual firm operating in a
perfectly competitive market. Suppose that the price of Avocados is $3.
Number of workers |
Number of Avocados |
0 |
0 |
10 |
150 |
20 |
270 |
30 |
360 |
40 |
420 |
50 |
450 |
Given this data, complete the table:
Quantity of avocados |
Marginal Product of Labor (MPL) |
Value of the Marginal Product of Labor (VMPL) |
0 |
- |
- |
10 |
|
|
20 |
|
|
30 |
|
|
40 |
|
|
50 |
|
|
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