-Assume that the product price is $4 per unit and that the hourly wage for workers is $12.Neither price nor wage changes with output.In Table 30.1,the contribution to total revenue of the fourth worker hired is
A) $76 per hour.
B) $16 per hour.
C) $4 per hour.
Correct Answer:
Verified
Q45: If the MPP of an additional unit
Q46: Marginal physical product diminishes as additional workers
Q47: If the MPP of an additional unit
Q48: As marginal physical product diminishes,marginal revenue product
A)Also
Q49: The marginal revenue product of labor is
Q51: The marginal revenue product of labor curve
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