Exhibit 10-1 Labor and output data

-In Exhibit 10-1,if product price is fixed at $8,the MRP of the 5th worker is equal to:

Name: Exhibit 10-1 Labor and output data -In Exhibit 10-1,if product price is fixed at $8,the MRP of the 5th worker is equal to:
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Question

Exhibit 10-1 Labor and output data
 
-In Exhibit 10-1,if product price is fixed at $8,the MRP of the 5th worker is equal to:

Quizplus · Accepted Answer

To calculate MRP, we need to calculate the additional output that each worker adds and multiply it by the price of the product. The additional output for the 5th worker is 40-30=10 units. Therefore, the MRP of the 5th worker is $8 x 10 = $80.

Exhibit 10-1 Labor and Output Data