Question

Neck-ed is a company producing designer neckties. In March, Neck-ed employed 20 workers with total output for the month of 100 neckties. In addition, if Neck-ed hired 5 additional workers, then its output would increase by 50 neckties. For March, Neck-ed's average product of labor was neckties per worker, and its marginal product of labor would be additional neckties per additional worker. 6...50 6..10 5...50 5...10

          Neck-ed is a company producing designer neckties. In March, Neck-ed employed 20 workers with total output for the month of 100 neckties. In addition, if Neck-ed hired 5 additional workers, then its output would increase by 50 neckties.
For March, Neck-ed's average product of labor was ____ neckties per worker, and its marginal product of labor would be ____ additional neckties per additional worker.
6...50
6..10
5...50
5...10

Neck-ed is a company producing designer neckties. In March, Neck-ed employed 20 workers with total output for the month of 100 neckties. In addition, if Neck-ed hired 5 additional workers, then its output would increase by 50 neckties.
For March, Neck-ed's average product of labor was neckties per worker, and its marginal product of labor would be additional neckties per additional worker.
6...50
6..10
5...50
5...10

Added by Lisa W.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Pramod Kumartibrewal

03/04/2022

Step 1

To calculate the APL, divide the total output (100 neckties) by the number of workers (20). APL = 100 neckties / 20 workers = 5 neckties per worker Show more…

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Neck-ed is a company producing designer neckties. In March, Neck-ed employed 20 workers with a total output for the month of 100 neckties. In addition, if Neck-ed hired 5 additional workers, then its output would increase by 50 neckties. For March, Neck-ed's average product of labor was 5 neckties per worker, and its marginal product of labor would be 5 additional neckties per additional worker.