If the marginal product of a worker for a hearing aid manufacturer is 6 hearing aids, and the price of a hearing aid is $300, the firmʹs marginal revenue product is
A) $50.
B) $300.
C) $1,800.
D) $18,000.

Question

Quizplus · Accepted Answer

The marginal revenue product (MRP) is calculated by multiplying the marginal product of a worker by the price of the product. Here, MRP = 6 hearing aids * $300/hearing aid = $1,800.

If the Marginal Product of a Worker for a Hearing