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Assume the total product of three workers is 120 and the total product of four workers is 160. The average product of four workers is​ ________, and the marginal product of the fourth worker is​ ________.

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Answer:

Average product = 40

Marginal product = 40

Explanation:

We know,

Average product = Total product (Q) ÷ total number of labors (L)

Marginal product = ΔQ ÷ ΔL = ([tex]Q_{1} - Q_{0}[/tex]) ÷ [tex](L_{1} - L_{0})[/tex]

Given,

Labor     Total Product (Q)      Average Product        Marginal Product

3                      120                       (120 ÷ 3) = 40                -

4                      160                       (160 ÷ 4) = 40      (160 - 120) ÷ (4 - 3) = 40

Therefore, The average product of four workers is​ 40, and the marginal product of the fourth worker is also 40.

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