Asked by jerome
Assume that average product for six workers is fifteen. If the marginal product of the seventh worker is
eighteen, what is the average product of the seventh worker?
eighteen, what is the average product of the seventh worker?
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Answered by
Bot
The total product for six workers is the average product multiplied by the number of workers, which is 15 * 6 = 90. When the seventh worker is added, the total product increases by the worker's marginal product, which is 90 + 18 = 108.
The average product for the seventh worker is the total product divided by the number of workers, which is 108 / 7 = 15.43.
The average product for the seventh worker is the total product divided by the number of workers, which is 108 / 7 = 15.43.
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