The following table shows the marginal productivity of different units of labor for producing a product. Table 14.4
In the table,
MR: Marginal Revenue
MPP: Marginal Physical Product
In Table 14.4,if marginal revenue product is equal to the product of MPP and MR,what wage rate would be consistent with a profit-maximizing firm hiring six laborers?
A)$6
B)$10
C)$12
D)$18
E)$24

Question

The following table shows the marginal productivity of different units of labor for producing a product. Table 14.4
 In the table,
MR: Marginal Revenue
MPP: Marginal Physical Product
In Table 14.4,if marginal revenue product is equal to the product of MPP and MR,what wage rate would be consistent with a profit-maximizing firm hiring six laborers?
A)$6 
B)$10 
C)$12 
D)$18 
E)$24

Quizplus · Accepted Answer

The Answer of The following table shows the marginal productivity of different units of labor for producing a product. Table 14.4
 In the table,
MR: Marginal Revenue
MPP: Marginal Physical Product
In Table 14.4,if marginal revenue product is equal to the product of MPP and MR,what wage rate would be consistent with a profit-maximizing firm hiring six laborers?
A)$6 
B)$10 
C)$12 
D)$18 
E)$24

The Following Table Shows the Marginal Productivity of Different Units