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A firm can produce 1,000 bushels of wheat per year with two workers or 1,300 bushels of wheat per year with four workers. The marginal product of the 4th worker is _____ bushels. {Hint: Find the formula for MP.]

Respuesta :

The marginal product of the fourth worker is 150 bushels of wheat.

What is the marginal product?

Marginal product is the change in the total product of labour when labour is increased by one unit.

Marginal product = change in output / change in labour

change in output = 1300 - 1000 = 300

change in labour = 4 - 2 = 2

300 / 2 = 150

To learn more about marginal product, please check: https://brainly.com/question/13623353

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