We appreciate your visit to Lauren owns a bakery that produces among other things wedding cakes She currently has 6 employees and with these employees her bakery can produce 9. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Answer:
3
Explanation:
Labor, or a labor force, is the number of workers at a producer’s facility. These Laborers utilize capital resources to produce a product. Without a labor force, a producer cannot produce.
Producers must determine the most efficient number of workers to meet their production needs.
This number is determined by analyzing the Marginal Product of Labor. This is the amount of the change in production produced by each additional worker. This change can take on three forms.
When a producer decides to higher an additional worker and, as a result, the number of items produced per worker per unit of time increases, the producer is said to be enjoying Increasing Marginal Returns.
Ecuation:
[tex]MP=\frac{Q2-Q1}{L2-L1}[/tex]
MP=Marginal Product
Q=quantity of cakes per day
L=labor force per day
[tex]MP=\frac{12-9}{7-6}[/tex]
[tex]MP=\frac{3}{1}[/tex]
[tex]MP=3[/tex]
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Final answer:
The marginal product of the seventh employee is 3 wedding cakes.
Explanation:
The marginal product of the seventh employee can be calculated by finding the difference in the number of wedding cakes produced when there are 6 employees and when there are 7 employees. With 6 employees, the bakery produces 9 wedding cakes per day, and with 7 employees, it produces 12 wedding cakes per day. The marginal product of the seventh employee is therefore 12 - 9 = 3 wedding cakes.
Learn more about Marginal product here:
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