Question

A local portrait photographer currently employs 2 helpers for the busy Fall season. With two helper she can produce 450 packets of Senior portrait proofs a month. She estimates that if she hires a third helper, she'll be able to produce 600 packets in the same amount of time. The marginal product for the third worker is:__________

Answer 1

Answer:

The marginal product for the third worker is 150 packets

Explanation:

Marginal product is the change in the output of a firm as a result of an additional input or factor of production. These additional inputs may include materials, labor etc.

The Marginal product for the third worker can therefore be calculated as

change in Total product / change in labour

change in total product = New packets of senior portrait -  old packets of senior portraits ( 600 - 450) =   150  

change in labour ( 3 - 2 ) = 1  

150/1 = 150 packets