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CountrySlim84 CountrySlim84
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A year ago
The Production Function in the Long and Short Run

The table shows the quantity of workers and short-run production for Huong's Waffles.

Quantity of WorkersQuantity of Waffles
per Week
00
124​
236​
345​
450​
549​
The waffle maker costs $510 and each worker costs $550 per week. What is the marginal product of labor for fourth worker? What is the average product of labor for the fourth worker?

▸ 50, 1.25

▸ 5, 12.5

▸ 5, 1.25

▸ 50, 12.5
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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thomas1993thomas1993
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A year ago
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