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The Production Function Practice Test
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Q1
A small factory produces assembled toolkits (single output) using labor as the variable input; the assembly line (capital) is fixed. Based on the production data shown, what is the marginal product of the 6th worker?
Table: Total Product (TP) of Toolkits
Labor (L), workers Total Product (TP), toolkits/day 0 0 1 3 2 8 3 14 4 19 5 23 6 26 7 28
A small factory produces assembled toolkits (single output) using labor as the variable input; the assembly line (capital) is fixed. Based on the production data shown, what is the marginal product of the 6th worker?
Table: Total Product (TP) of Toolkits
| Labor (L), workers | Total Product (TP), toolkits/day |
|---|---|
| 0 | 0 |
| 1 | 3 |
| 2 | 8 |
| 3 | 14 |
| 4 | 19 |
| 5 | 23 |
| 6 | 26 |
| 7 | 28 |
