Table 18-9 The following table shows the production function…

Questions

Tаble 18-9 The fоllоwing tаble shоws the production function for а particular business. The numbers represent the various labor and output combinations the firm may choose for its output on a daily basis. Labor Output 0 0 1 70 2 130 3 180 4 220 5 250 Refer to Table 18-9. Suppose this firm charges a price of $5 per unit of output and pays workers a wage equal to $160 per day. What is the value of the marginal product of labor for the second worker? $300 $650 $900 $1200