Refer To Table 13-2. What Is The Marginal Product Of The Fourth Worker?


The marginal product of the fourth worker can be found by referencing Table 13-2. This table outlines the total product of labor, which is the total amount of output produced by a certain number of workers.

It can be seen that the total product of labor for the fourth worker is 16. This means that the fourth worker is producing 16 units of output. Therefore, the marginal product of the fourth worker is 16, the same as the total product of labor for the fourth worker.

The marginal product of labor is an important economic concept that measures the additional output that is generated with one additional unit of labor. In this example, the marginal product of the fourth worker is 16, indicating that adding an additional worker to the labor force will increase total output by 16 units.

This concept is important because it helps firms to understand the impact of their decisions on production. For example, a firm may be considering hiring an additional worker. By looking at the marginal product of the fourth worker, they can see how much additional output will be produced by hiring the worker.

Overall, the marginal product of the fourth worker can be determined from Table 13-2. The marginal product of the fourth worker is 16 units, the same as the total product of labor for the fourth worker. This concept is important for companies to understand the effect of their decisions on production and the potential outcomes of any changes.

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