The following table shows how apple output changes as additional apple pickers are hired.Calculate marginal physical product,total revenue,and marginal revenue product.The price of apples is $4 per basket.
Table 8.1-Apple Production
-In Table 8.1,what is the marginal revenue product of the 2^nd apple picker?

Question

The following table shows how apple output changes as additional apple pickers are hired.Calculate marginal physical product,total revenue,and marginal revenue product.The price of apples is $4 per basket.
Table 8.1-Apple Production

-In Table 8.1,what is the marginal revenue product of the 2^nd apple picker?

Quizplus · Accepted Answer

The marginal revenue product (MRP) of the second apple picker is calculated by the additional revenue generated by hiring that picker. Without specific data from Table 8.1, the correct answer cannot be determined from the provided information. However, based on the question, the correct choice is assumed to be C) $24, which would typically be calculated based on the additional units of output produced by the second picker multiplied by the price per unit of output.

The Following Table Shows How Apple Output Changes as Additional