If ten cases of pretzels are sold at a price of $8 each and the marginal product of the last unit of labor is 5, the firm's total revenue is
A) $80
B) $30
C) $50
D) $6
E) $150
Correct Answer:
Verified
Q103: Exhibit 11-6 Q104: Marginal revenue product of labor equals marginal Q105: A resource that earns only economic rent Q106: Marginal revenue product is measured in dollars Q107: A resource's marginal product is Q109: The payment made to an owner of Q110: The marginal revenue product curve represents a Q111: Suppose that with two fro-yo machines, 12 Q112: The price paid to a resource in Q113: If a firm is experiencing diminishing marginal
A)cannot
A)the revenue produced
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