lavey asked in Social ScienceEconomics · 3 months ago

What's the answer to this microeconomics question?

The average product of labor for 4 workers is 35, and the marginal product of labor for the fifth worker is equal to 8. What is the average product of labor for five workers?

2 Answers

  • ?
    Lv 6
    3 months ago

    Total output when 4 Workers are hired is 35x4=140. Total product when one more worker is added is 140+8=148. So average product when 5 workers are hired is 148/5=29.6. voila.

  • Zirp
    Lv 7
    3 months ago

    if by average you mean for 4 workers combined, the answer is 43/5, aka  8.6

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