Answer :
The value of the marginal product of the fifth worker is $11.
Why is marginal product?
Marginal product is an analysis of the output that results from engaging an additional unit of input, such as labor. The concept of the marginal product compares the benefits derived from one more unit against the cost of producing it.
The value of the marginal product is the increase in total production resulting from the addition of one more unit of a factor of production, in this case, one more worker. It is calculated by multiplying the marginal product of the worker (the additional amount of wheat produced by the worker) by the price of the wheat.
If the price of a bushel of wheat is $10 and the marginal product of the fifth worker is 10 bushels, then the value of the marginal product of the fifth worker is $10 x 10 = $11.
Hence, The value of the marginal product of the fifth worker is $11.
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