If by the use of one unit of labour, 2 quintals of wheat are produced and by the use of two units of labour, 5 quintals of wheat are produced.
What will be the marginal product of wheat?
Answer & explanation
Correct answer: option 3
The correct answer is Option 3: 3 quintals of wheat
Marginal product= Change in total product/Change in Labour
Given:
- With 1 unit of labour, wheat produced = 2 quintals
- With 2 units of labour, wheat produced = 5 quintals
Now, calculating the Marginal Product when labour increases from 1 to 2 units:
M.P= (5-2)/(2-1)
=3 quintals