Chapter 1. Long-Run Economic Growth
1.1
Econ Tutorial
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Tutorial
Questions
2
16
Question
2
No, that's not it. The marginal product of any amount of physical capital = Change in real GDP per worker/Change in physical capital per worker. In this case, Real GDP increased by $6,100-100 = $6,000 and the physical capital increased by $2,000 - 0 = $2,000 so the marginal product of the first $2,000 of physical capital per worker = $6,000/$2,000 = 3.
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