The following table shows the total output produced in a factory at various levels of employment of labor.The firm sells each unit of output at $2 and each worker is paid a wage of $32.
Table 5-1

-Refer to Table 5-1.What is the marginal revenue product of the 4th worker?
A)$96
B)$242
C)$288
D)$162
E)$256

Question

The following table shows the total output produced in a factory at various levels of employment of labor.The firm sells each unit of output at $2 and each worker is paid a wage of $32.
Table 5-1
 
-Refer to Table 5-1.What is the marginal revenue product of the 4th worker?
A)$96 
B)$242 
C)$288 
D)$162 
E)$256

Quizplus · Accepted Answer

The marginal revenue product of the 4th worker is $242, which is the difference between the total revenue with 4 workers and the total revenue with 3 workers.

The Following Table Shows the Total Output Produced in a Factory