(Table: Excellence Publishing) Refer to the table. Each edited book sells for $50. What is the marginal product of labor for the sixth worker? Number of Workers Per Year 4 5 6 7 8 9 $21,200 $2,200 $110,000 $45,000 Number of Books Edited Per Year 16,000 19,000 21,200 22,800 23,700 24,200

(Table: Excellence Publishing) Refer to the table. Each edited book sells for $50. What is the marginal product of labor for the sixth worker? Number of Workers Per Year 4 5 6 7 8 9 $21,200 $2,200 $110,000 $45,000 Number of Books Edited Per Year 16,000 19,000 21,200 22,800 23,700 24,200

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

(Table: Excellence Publishing) Refer to the table. Each edited book sells for $50. What is the marginal
product of labor for the sixth worker?
Number of Workers Per Year
4
5
6
7
8
$21,200
$2,200
$110,000
$45,000
Number of Books Edited Per Year
16,000
19,000
21,200
22,800
23,700
24,200

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