A swimming pool cleaning company has the following production possibilities. With one, two, three, and four workers, the company can clean 5, 12, 17, and 20 pools per day, respectively. The marginal product of the third worker is____________.

The purpose of margin product is the different output that results when one more unit of input, such as labor, is counted. The ultimate goal is trying to reason out how the last unit of input affects the total output while all other inputs stay unchanged.

No of workers Per day work

1 5

2 12

3 17

4 20

Then To find the Marginal product of the third worker

Marginal product is = Qn -Qn-1/Ln-Ln-1

∴ (17 - 12)/(3-2) = 5

Now, Qn is the Total production at time n

Qn-1 is the Total production at time n-1

Then Ln is he unit at time n

Hence, Ln-1 is the units at time n-1

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A swimming pool cleaning company has the following production possibilities. With​ one, two,​ three, and four​ workers, the company can clean​ 5, 12,​ 17, and 20 pools per​ day, respectively. The marginal product of the third worker is____________.

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What is a Marginal product?

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A swimming pool cleaning company has the following production possibilities. With one, two, three, and four workers, the company can clean 5, 12, 17, and 20 pools per day, respectively. The marginal product of the third worker is____________.