Answered: This table shows the number of cars the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

This table shows the number of cars the local car wash can wash in an hour depending on the number of workers employed. Use this table to find the marginal product of labor for the following workers: Marginal products of labor for the 2nd: _______ Marginal product of labor for the 8th worker: _______ Marginal product of labor for the 10th worker: ________

Number of
workers
0
2
4
6
8
10
12
Total output (number of cars washed per
hour)
0
10
26
40
50
58
62

Expert Solution

Step 1

The marginal product of labor is the change in the total product when one more additional labor is hired. It is the addition to the total product as a result of the hiring of one more extra labor.

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