When a firm employs 1 unit of factor X it produces 28 units of output and when it employs 2 units of factor X it produces 57 units of output. It follows that marginal revenue product of the second unit of factor X is
A) $22.00.
B) $29.00.
C) $0.53.
D) $114.
E) There is not enough information to answer the question.
Correct Answer:
Verified
Q120: Exhibit 26-5 Q121: Elasticity of demand for labor is affected Q122: When a perfectly competitive firm (that sells Q123: Exhibit 26-6 Q124: If all the individuals had the same Q126: Promoting from within should _ be regarded Q127: "Screening" is the process by which Q128: For a given firm, marginal factor cost Q129: Exhibit 26-6 Q130: If there are two factors used in Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
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A)wages tend
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