If principles of economics sections is three credit hours and an instructor teaches two sections with 100 students in each and tuition and fees at your school are $500 per credit hour, then the marginal revenue product for your school from hiring that instructor that semester is:

Question

Quizplus · Accepted Answer

The marginal revenue product is calculated by multiplying the number of students (200) by the credit hours (3) and the tuition per credit hour ($500), resulting in $300,000.

If Principles of Economics Sections Is Three Credit Hours and an Instructor