The following table shows the marginal revenue of a firm and the marginal physical product of different units of labor in a perfectly competitive labor market. Table 14.5
Note: Marginal revenue product of a resource is the product of MPP and MR.
In Table 14.5,at what wage rate would one worker be hired by a profit-maximizing firm?
A)$10
B)$25
C)$30
D)$50
E)$100

Question

The following table shows the marginal revenue of a firm and the marginal physical product of different units of labor in a perfectly competitive labor market. Table 14.5
 Note: Marginal revenue product of a resource is the product of MPP and MR.
In Table 14.5,at what wage rate would one worker be hired by a profit-maximizing firm?
A)$10 
B)$25 
C)$30 
D)$50 
E)$100

Quizplus · Accepted Answer

The Answer of The following table shows the marginal revenue of a firm and the marginal physical product of different units of labor in a perfectly competitive labor market. Table 14.5
 Note: Marginal revenue product of a resource is the product of MPP and MR.
In Table 14.5,at what wage rate would one worker be hired by a profit-maximizing firm?
A)$10 
B)$25 
C)$30 
D)$50 
E)$100

The Following Table Shows the Marginal Revenue of a Firm