Use Table: Derived Demand for Capital. The table lists the units of capital and the marginal revenue product per hour that are generated by each unit for a firm in a perfectly competitive market. If we know that the firm is hiring six units of capital, then the wage of labor is greater than _____ and less than or equal to:

A) $12; $14.
B) $8; $10.
C) $6; $8.
D) $4; $6.

Question

Use Table: Derived Demand for Capital. The table lists the units of capital and the marginal revenue product per hour that are generated by each unit for a firm in a perfectly competitive market. If we know that the firm is hiring six units of capital, then the wage of labor is greater than _____ and less than or equal to:
​

A) $12; $14. 
B) $8; $10. 
C) $6; $8. 
D) $4; $6.

Quizplus · Accepted Answer

The Answer of Use Table: Derived Demand for Capital. The table lists the units of capital and the marginal revenue product per hour that are generated by each unit for a firm in a perfectly competitive market. If we know that the firm is hiring six units of capital, then the wage of labor is greater than _____ and less than or equal to:
​

A) $12; $14. 
B) $8; $10. 
C) $6; $8. 
D) $4; $6.