Use the information given in the table below to answer the following question(s).Assume the firm hires labor competitively and sells its product in a competitive price-taker market at a price of $2 per unit.
Table 12-7

-Refer to Table 12-7.What is the marginal revenue product of the fifth unit of labor?
A)$2
B)$4
C)$20
D)$100

Question

Use the information given in the table below to answer the following question(s).Assume the firm hires labor competitively and sells its product in a competitive price-taker market at a price of $2 per unit.
Table 12-7
 
-Refer to Table 12-7.What is the marginal revenue product of the fifth unit of labor?
A)$2 
B)$4 
C)$20 
D)$100

Quizplus · Accepted Answer

The Answer of Use the information given in the table below to answer the following question(s).Assume the firm hires labor competitively and sells its product in a competitive price-taker market at a price of $2 per unit.
Table 12-7
 
-Refer to Table 12-7.What is the marginal revenue product of the fifth unit of labor?
A)$2 
B)$4 
C)$20 
D)$100

Use the Information Given in the Table Below to Answer