The following table shows output per hour produced by the different units of labor. Table 14.1
The marginal revenue product of a resource is equal to the product of the marginal product of an input and marginal revenue.
Refer to Table 14.1.If both the wage rate and the price of the good falls to $2,how many workers would the firm hire?
A)1
B)2
C)3
D)4

Question

The following table shows output per hour produced by the different units of labor. Table 14.1
 The marginal revenue product of a resource is equal to the product of the marginal product of an input and marginal revenue.
Refer to Table 14.1.If both the wage rate and the price of the good falls to $2,how many workers would the firm hire?
A)1 
B)2 
C)3 
D)4

Quizplus · Accepted Answer

The Answer of The following table shows output per hour produced by the different units of labor. Table 14.1
 The marginal revenue product of a resource is equal to the product of the marginal product of an input and marginal revenue.
Refer to Table 14.1.If both the wage rate and the price of the good falls to $2,how many workers would the firm hire?
A)1 
B)2 
C)3 
D)4

The Following Table Shows Output Per Hour Produced by the Different