The marginal product of labor at Ronald's Outboard Motor Manufacturing plant is Ronald can sell every unit of output he produces for $100.Determine Ronald's marginal revenue of the product of labor.If Ronald can hire all the labor hours he would like at $15,calculate Ronald's optimal employment level.If the wage rate falls to $10,calculate Ronald's new level of employment.

Question

The marginal product of labor at Ronald's Outboard Motor Manufacturing plant is  Ronald can sell every unit of output he produces for $100.Determine Ronald's marginal revenue of the product of labor.If Ronald can hire all the labor hours he would like at $15,calculate Ronald's optimal employment level.If the wage rate falls to $10,calculate Ronald's new level of employment.

Quizplus · Accepted Answer

The Answer of The marginal product of labor at Ronald's Outboard Motor Manufacturing plant is  Ronald can sell every unit of output he produces for $100.Determine Ronald's marginal revenue of the product of labor.If Ronald can hire all the labor hours he would like at $15,calculate Ronald's optimal employment level.If the wage rate falls to $10,calculate Ronald's new level of employment.

The Marginal Product of Labor at Ronald's Outboard Motor Manufacturing