Question

When a firm uses 100 workers and 20 units of capital, it produces 80 units of output; when it uses 101 workers and 21 units of capital, it produces 130 units of output; and when it uses 100 workers and 21 units of capital, it produces 105 units of output. The marginal product of capital for the 101 Superscript st unit is ▼

Name: when a firm uses 100 workers and 20 units of capital it produces 80 units of output when it uses 101 workers and 21 units of capital it produces 130 units of output and when it uses 100 work 69469
Uploaded: 2021-12-20T06:24:21-08:00
Duration: 3 min 42 s
Channel: Md.Daniyal Arshad
Description: when a firm uses 100 workers and 20 units of capital it produces 80 units of output when it uses 101 workers and 21 units of capital it produces 130 units of output and when it uses 100 work 69469

          When a firm uses 100 workers and 20 units of capital, it produces 80 units of output; when it uses 101 workers and 21 units of capital, it produces 130 units of output; and when it uses 100 workers and 21 units of capital, it produces 105 units of output. The marginal product of capital for the 101 Superscript st unit is
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Added by Matthew B.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Md.Daniyal Arshad

12/20/2021

Step 1

To calculate the marginal product of capital for the 101st unit, we need to find the change in output when the firm goes from using 20 units of capital to 21 units of capital, while keeping the number of workers constant at 101. Show more…

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When a firm uses 100 workers and 20 units of capital, it produces 80 units of output; when it uses 101 workers and 21 units of capital, it produces 130 units of output; and when it uses 100 workers and 21 units of capital, it produces 105 units of output. The marginal product of capital for the 101 Superscript st unit is ▼