Answered

Westonci.ca is the Q&A platform that connects you with experts who provide accurate and detailed answers. Find reliable answers to your questions from a wide community of knowledgeable experts on our user-friendly Q&A platform. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

The first, second, and third workers employed by a firm add 24, 18, and 9 units to total product, respectively. Therefore, we can conclude that Multiple Choice marginal product of the third worker is 9. the third worker has to work with poorer-quality tools and raw materials. the firm will not want to hire more than three workers. the first worker puts forth more effort than the second and third workers.

Sagot :

anthougo

Answer:

Therefore, we can conclude that:

the marginal product of the third worker is 9.

Explanation:

a) Data and Calculations:

The productivity of first worker = 24

Increase in productivity from second worker = 18

Increase in productivity from third worker = 9

b) The marginal product or productivity of a worker shows the increase in productivity as a result of hiring an additional worker.  To obtain the marginal product, we first calculate the change in output as a result of the change in the input of the particular resource.  Then, this change in output is the marginal product.

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.