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3 years ago

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A farmer who has fixed amounts of land and capital finds that total product is 24 for the first worker hired, 32 when two worker

s are hired, 37 when three are hired, and 40 when four are hired. The farmer's product sells for $3 per unit, and the wage rate is $13 per worker. The marginal product of the second worker is
A. 8.
B. 1.
C. 24.
D. 5

1 answer:

ruslelena [56]3 years ago

6 0

Answer:

A. 8.

Step-by-step explanation:

The marginal product is the increase in output (units produced) resulting from employing one more worker. Therefore, the marginal product of the second worker (M2) is given by the difference between the total product with two workers and the total product with one worker.

$M_2 =32-24\\M_2 =8$

The answer is A. 8.

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