Jayden runs a company that sells its product for $250 each. When he employs 10 workers, they can sell 60 products per week, while only 54 products are sold when 9 workers are employed. What is the weekly marginal revenue product of the tenth worker?
A) $250
B) $1,250
C) $1,500
D) $15,000

Question

Quizplus · Accepted Answer

The marginal revenue product (MRP) of the tenth worker is calculated by multiplying the additional number of products sold due to the tenth worker by the price per product. The tenth worker increases sales from 54 to 60 products, which is an increase of 6 products. Therefore, MRP = 6 products * $250/product = $1,500.

Jayden Runs a Company That Sells Its Product for $250