Question

theory of the firm (mobile - enhanced)
fill in the blanks to complete the marginal product of labor column for each worker.
labor (number of workers) output (units of wax) marginal product of labor (units of wax)
0 0
1 60
2 100
3 130
4 150
5 160
on the following graph, plot talias production function using the green points (triangle symbol).
note: plot your points in the order in which you would like them connected. line segments will connect the points automatically.
hint: be sure to plot the first point at (0, 0).

Explanation:

Step1: Recall marginal product of labor formula

Marginal Product of Labor (MPL) = $\Delta Output\div\Delta Labor$.

Step2: Calculate MPL for 1 worker

When labor changes from 0 to 1, output changes from 0 to 60. MPL = $\frac{60 - 0}{1-0}=60$.

Step3: Calculate MPL for 2 workers

When labor changes from 1 to 2, output changes from 60 to 100. MPL = $\frac{100 - 60}{2 - 1}=40$.

Step4: Calculate MPL for 3 workers

When labor changes from 2 to 3, output changes from 100 to 130. MPL = $\frac{130 - 100}{3 - 2}=30$.

Step5: Calculate MPL for 4 workers

When labor changes from 3 to 4, output changes from 130 to 150. MPL = $\frac{150 - 130}{4 - 3}=20$.

Step6: Calculate MPL for 5 workers

When labor changes from 4 to 5, output changes from 150 to 160. MPL = $\frac{160 - 150}{5 - 4}=10$.

Answer:

The filled - in values for Marginal Product of Labor are correct as given in the problem: 60, 40, 30, 20, 10 for 1, 2, 3, 4, 5 workers respectively. For plotting the production function, the points to plot are (0,0), (1,60), (2,100), (3,130), (4,150), (5,160) using the green points (triangle symbol) on the provided graph.