-In the Above Table, the Marginal Product of the Second

question 34

Multiple Choice

-In the above table, the marginal product of the second worker is

• A) 68.
• B) 98.
• C) 38.
• D) It cannot be determined.

---

Definitions:

Hired Workers

Individuals employed to perform services or labor for compensation under the direction of an employer.

Derived Demand

Demand for a product or service that results from the demand for another good or service, like the demand for steel driven by demand for cars.

Demand for Labor

The demand for labor reflects the amount of labor employers are willing to hire at a given wage rate, influenced by economic conditions and productivity.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning that no one can be effectively excluded from use and where use by one individual does not reduce availability to others.