Question: Given the table below, if capital is fixed at two units, what is the marginal product of the fourth unit of labor? Units of Capital
Given the table below, if capital is fixed at two units, what is the marginal product of the fourth unit of labor?
| Units of Capital | ||||
| 1 | 2 | 3 | ||
| Units of Labor | 1 | 80 | 100 | 120 |
| 2 | 180 | 220 | 260 | |
| 3 | 270 | 330 | 390 | |
| 4 | 340 | 420 | 500 | |
| 5 | 390 | 490 | 590 | |
| 6 | 410 | 530 | 650 |
Amount of total output produced from various combinations of labor and capital.
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