Figure 8.3-Apple Production -In Figure 8.3,the 7 th worker will:

According to the graph, the MRP for the 7 th worker is below the wage rate. Therefore, it would not be profitable to hire this additional worker as the marginal cost would exceed the additional revenue they would bring in.

Figure 8.3-Apple Production -In Figure 8.3,the 7 th worker will:

According to the graph, the MRP for the 7 th worker is below the wage rate. Therefore, it would not be profitable to hire this additional worker as the marginal cost would exceed the additional revenue they would bring in.

Solved

Figure 8.3-Apple Production

Question 112

Multiple Choice

Figure 8.3-Apple Production Figure 8.3-Apple Production -In Figure 8.3,the 7<sup>th</sup> worker will: A) Be hired since the MRP is greater than the wage rate. B) Not be hired since the MRP is greater than the wage rate. C) Be hired since the MRP is less than the wage rate. D) Not be hired since the MRP is less than the wage rate.
-In Figure 8.3,the 7^th worker will:

A) Be hired since the MRP is greater than the wage rate.
B) Not be hired since the MRP is greater than the wage rate.
C) Be hired since the MRP is less than the wage rate.
D) Not be hired since the MRP is less than the wage rate.

Correct Answer: