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
According to Table 14.4,how many laborers should be hired if the wage rate is $18? (Marginal revenue product = MPP ´ MR)
A)2
B)3
C)4
D)5

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
According to Table 14.4,how many laborers should be hired if the wage rate is $18? (Marginal revenue product = MPP ´ MR)
A)2 
B)3 
C)4 
D)5

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
According to Table 14.4,how many laborers should be hired if the wage rate is $18? (Marginal revenue product = MPP ´ MR)
A)2 
B)3 
C)4 
D)5

The Following Table Shows the Marginal Productivity of Different Units