Use Table: Employment and Output. In the table, if the price of a bushel of wheat is $10, then the value of the marginal product of the third worker is: Select one: a. $15. b. $510. c. $150. d. $170.

Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter18: The Markets For The Factor Of Production
Section: Chapter Questions
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Table: Employment and Output

Quantity of Labor
(workers)
Quantity of Wheat
(bushels)
Marginal Product of Labor
(bushels per worker)
0 0  
    19
1 19  
    17
2 36  
    15
3 51  
    13
4 64  
    11
5 75  
    9
6 84  
    7
7 91  
    5
8 96  
Reference: Ref 19-4 Table: Employment and Output


(Table: Employment and Output) Use Table: Employment and Output. In the table, if the price of a bushel of wheat is $10, then the value of the marginal product of the third worker is:

Select one:
a. $15.
b. $510.
c. $150.
d. $170.
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