Assume that the marginal revenue product of the fourth worker in a business is $9.00, of the fifth worker is $7.00, and of the sixth worker is $5.00. Given these figures, how many workers would the firm be willing to hire at a wage rate of $5.10?
A) Six.
B) Five.
C) Four.
D) Fewer than four.
Correct Answer:
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Q29: Q30: Q31: Q32: Four workers produce 200 ice cream bars Q33: The marginal revenue product of labor is: Q35: A firm will demand a worker as Q36: The demand curve for labor: Q37: The demand curve for labor is based Q38: Given the following table, a product price Q39: The supply curve for labor is: Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)
A) slopes downward.
B)
A) vertical.
B)
