Chapter 1. eFigure 6.2
Animated Graph
Deriving the Marginal Product of Labor
true
true
You must read each slide, and complete any questions on the slide, in sequence.
Question 1.1
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100
Correct! The production function describes the way in which the amount of output changes as the amount of labor is increased, given a fixed amount of capital. The marginal product of labor is the slope of this function, rise/run, the change in output (on the vertical axis) over the change in labor (on the horizontal axis).
Incorrect! The production function describes the way in which the amount of output changes as the amount of labor is increased, given a fixed amount of capital. The marginal product of labor is the slope of this function, rise/run, the change in output (on the vertical axis) over the change in labor (on the horizontal axis).
Question 1.2
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100
Correct! The marginal product of labor falls with additional units of labor because the production function exhibits diminishing marginal returns. That is, additional units of labor increase the quantity produced, but by smaller amounts than the addition of the first workers. Additional labor increases output but at a diminishing rate.
Incorrect! The marginal product of labor falls with additional units of labor because the production function exhibits diminishing marginal returns. That is, additional units of labor increase the quantity produced, but by smaller amounts than the addition of the first workers. Additional labor increases output but at a diminishing rate.
Question 1.3
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100
Correct! The marginal product of labor describes the additional output attained (∆Q) as additional units of labor (∆L) are added to a fixed amount of capital. The negative slope indicates that additional units of labor, added to a fixed amount of capital, result in fewer and fewer units of additional output. That is, additional units of labor are less productive and the incremental (additional) amount of output produced decreases with more and more labor.
Incorrect! The marginal product of labor describes the additional output attained (∆Q) as additional units of labor (∆L) are added to a fixed amount of capital. The negative slope indicates that additional units of labor, added to a fixed amount of capital, result in fewer and fewer units of additional output. That is, additional units of labor are less productive and the incremental (additional) amount of output produced decreases with more and more labor.