Question

What is the value marginal product of labor if p = $10, mpl = $25, and apl = 40? multiple choice $400 $10,000 $250 $1,000

Answer 1

If P=$10, MPL= $25 and APL=$ 40, then the value of marginal product of labor is $250

The marginal product of labor (MPL) is the change in output that results from employing an added unit of labor.

The average product of labor (APL) is the total product of labor divided by the number of units of labor employed.

Here,

P= $10

The marginal product of labor (MPL)= $25

The average product of labor (APL)= $40

The value of marginal product of labor= P × The marginal product of labor (MPL)

The value of marginal product of labor= 10×25=$250

Hence, If P=$10, MPL= $25 and APL=$ 40, then the value of marginal product of labor is $250

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