If the first, second, and third workers add 14, 8, and 5 units to total product respectively, what is the marginal product of the third worker?

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Study for the University of Central Florida ECO2023 Principles of Microeconomics Final. Prepare with multiple choice questions, flashcards with helpful hints and explanations. Ace your exam!

The marginal product of a worker refers to the additional output produced by hiring one more worker, holding all other factors constant. To find the marginal product of the third worker, you need to consider the increase in output that occurs when this worker is added.

The information given indicates that the first worker contributes 14 units to total production, the second worker adds 8 units, and the third worker contributes an additional 5 units. The marginal product of the third worker is determined solely by the output that this particular worker adds, which is indicated directly as 5 units.

Therefore, the correct answer reflects this amount, showing that the third worker contributes 5 additional units to overall production. Understanding this concept highlights the diminishing returns that can occur with additional workers: as more workers are added, the additional output each new worker contributes can decrease. This illustrates the principle of marginal product, which is foundational in the study of economics and labor productivity.