Assume that average product for six workers is fifteen. If the marginal product of the seventh worker is
eighteen, what is the average product of the seventh worker?
To find the average product of the seventh worker, we need to calculate the total product of seven workers and then divide it by the total number of workers.
Given that the average product for six workers is fifteen, we can calculate the total product of six workers as follows:
Total product of six workers = Average product * Number of workers
Total product of six workers = 15 * 6
Total product of six workers = 90
Now, let's calculate the total product of seven workers. We know that the marginal product of the seventh worker is eighteen. The marginal product represents the additional output that the seventh worker contributes compared to the previous worker.
Therefore, the total product of seven workers is:
Total product of seven workers = Total product of six workers + Marginal product of the seventh worker
Total product of seven workers = 90 + 18
Total product of seven workers = 108
Now, to find the average product of the seventh worker, we divide the total product of seven workers by the total number of workers (7 in this case):
Average product of the seventh worker = Total product of seven workers / Number of workers
Average product of the seventh worker = 108 / 7
Average product of the seventh worker ≈ 15.43
Therefore, the average product of the seventh worker is approximately 15.43.
To find the average product of the seventh worker, we need to know the total product of all seven workers.
The average product is calculated by dividing the total product by the number of workers. In this case, we have information about the average product of six workers, but we need to find the total product to determine the average product of the seventh worker.
To find the total product, we can use the formula:
Total Product = Average Product * Number of Workers
Given that the average product for six workers is 15, we can plug in the values to find the total product:
Total Product = 15 * 6
Total Product = 90
Now that we know the total product of all seven workers is 90, we can calculate the average product of the seventh worker.
Average Product of the Seventh Worker = Total Product / Number of Workers
Average Product of the Seventh Worker = 90 / 7
Therefore, the average product of the seventh worker is approximately 12.86.