Figure 8.3-Apple Production -In Figure 8.3,the 5 th worker will:

The worker will be hired if the Marginal Revenue Product (MRP) is greater than the wage rate, as this indicates the worker generates more revenue for the firm than the cost of employing them.

Figure 8.3-Apple Production -In Figure 8.3,the 5 th worker will:

The worker will be hired if the Marginal Revenue Product (MRP) is greater than the wage rate, as this indicates the worker generates more revenue for the firm than the cost of employing them.

Solved

Figure 8.3-Apple Production

Question 102

Multiple Choice

Figure 8.3-Apple Production Figure 8.3-Apple Production -In Figure 8.3,the 5<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 5^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: