Table 12.2
-Refer to Table 12.2.What is the marginal revenue product of labour from the third unit of labour?
A)$5460.
B)$1560.
C)$1260.
D)$780.

Question

Table 12.2 
-Refer to Table 12.2.What is the marginal revenue product of labour from the third unit of labour?
A)$5460. 
B)$1560. 
C)$1260. 
D)$780.

Quizplus · Accepted Answer

The marginal revenue product (MRP) of labor is calculated by the change in total revenue from employing one more unit of labor. If the total revenue from two units of labor is subtracted from the total revenue from three units of labor, the difference is the MRP of the third unit of labor. Without the specific numbers from Table 12.2, the correct answer is inferred based on the question's context.

Table 12.2 -Refer to Table 12.2.What Is the Marginal Revenue Product of Revenue