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kms5229

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The following data show the total output for a firm when specified amounts of labour are combined with a fixed amount of capital. When answering the questions, you are to assume that the wage per unit of labour is $25 and the cost of the capital is $100.

Labour per unit of timeTotal output
0  0
1 25
2 75
3175
4250
5305

TABLE 7-4

Refer to Table 7-4. The marginal product of labour is at its maximum when the firm changes the amount of labour hired from
◦ 4 to 5 units.
◦ 2 to 3 units.
◦ 3 to 4 units.
◦ 0 to 1 unit.
◦ 1 to 2 units.


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Marked as best answer by kms5229 on Oct 12, 2022

RodrickHac

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kms5229

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Reply 2 on: Oct 12, 2022
Excellent


ttt030911

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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