Suppose the marginal product of the second worker hired by a firm is 3, and the price of the last unit produced is $7.Which of the following is true of the marginal revenue product of the second worker?
A)It must equal $21.
B)It must be less than or equal to $21.
C)It must be greater than or equal to $21.
D)It equals $21 only if the firm is a price searcher (e.g., monopoly).
E)We can conclude nothing about marginal revenue product.

Question

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The Answer of Suppose the marginal product of the second worker hired by a firm is 3, and the price of the last unit produced is $7.Which of the following is true of the marginal revenue product of the second worker?
A)It must equal $21.
B)It must be less than or equal to $21.
C)It must be greater than or equal to $21.
D)It equals $21 only if the firm is a price searcher (e.g., monopoly).
E)We can conclude nothing about marginal revenue product.

Suppose the Marginal Product of the Second Worker Hired by a Firm