Figure 12.2 Figure 12.2 shows the marginal revenue product for Becca's Baubles, a producer of hand-beaded bracelets.
-Refer to Figure 12.2.If the wage rate is $20, Becca should hire _________________workers.

Question

Figure 12.2  Figure 12.2 shows the marginal revenue product for Becca's Baubles, a producer of hand-beaded bracelets.
-Refer to Figure 12.2.If the wage rate is $20, Becca should hire _________________workers.

Quizplus · Accepted Answer

At a wage rate of $20, Becca should hire 6 workers because the marginal revenue product of labor (MRPL) is greater than the wage rate at that point.

Figure 122 Figure 12