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23 July, 18:36

Suppose Charles owns a lawn-mowing company. Assume that without workers, no yards are mowed. When he hires one worker, he is able to mow 4 yards per day. With two workers, he can mow 9 yards per day, and with three workers, he can mow 15 yards per day. The marginal product of the first worker is

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  1. 23 July, 18:56
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    Answer: The marginal product of the first worker is 4 yards per day.

    Explanation:

    The marginal product of labor is the level of output that is produced by an additional labor that is added.

    Marginal product of the nth labor = total product of nth labor - total product of (n-1) th labor

    Hence,

    Marginal Product of first worker = Total product of first worker - total product of zero worker

    = 4 - 0

    = 4

    ∴The marginal product of the first worker is 4 yards per day.
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