Question 12 The production function expressed in the table below represents the number of tacos that...
Question 12
The production function expressed in the table below represents the number of tacos that can be made at a taco truck in a given day based on the number of workers. Calculate the marginal product of adding the 3rd worker.
| # of Workers | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| # of Tacos Produced | 105 | 220 | 350 | 465 | 515 |
Homework Answers
Marginal product of the labor = Change in the output / change in the number of labor.
350 - 220 / 3-2 = 130 / 1 = 130.
the marginal product of the third labor in the firm is 130.
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Question 12
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