Table 18-9

-Refer to Table 18-9.This table describes the number of baseballs a manufacturer can produce per day with different quantities of labor.Each baseball sells for $2.50 in a competitive market.What is the marginal revenue product of the fourth worker?

Question

Table 18-9
 
-Refer to Table 18-9.This table describes the number of baseballs a manufacturer can produce per day with different quantities of labor.Each baseball sells for $2.50 in a competitive market.What is the marginal revenue product of the fourth worker?

Quizplus · Accepted Answer

The marginal revenue product of the fourth worker is the additional revenue generated by the fourth worker. The fourth worker produces 100 baseballs, which sell for $2.50 each, so the additional revenue is 100 * $2.50 = $250.

Table 18-9 -Refer to Table 18-9.This Table Describes the Number of Baseballs