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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  1. 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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