When Caroline's dress factory hires two workers, the total product is 50 dresses. When she hires three workers, total product is 48, and when she hires four workers, total product is 45. The marginal product of the third and fourth workers is:

Question

Medina

Social Studies

22 June, 04:40

When Caroline's dress factory hires two workers, the total product is 50 dresses. When she hires three workers, total product is 48, and when she hires four workers, total product is 45. The marginal product of the third and fourth workers is:

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Answers (1)

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Lance Bird · Answer 1

Marginal product of the third worker is 2

Marginal product of the fourth worker is 3

Explanation:

Marginal product = change in output/change in input

Marginal product of the third worker = 50-48/3-2 = 2/1 = 2

Marginal product of the fourth worker = 48-45/4-3 = 3/1 = 3