The following table shows the marginal productivity of different units of labor for producing a product.Table 14.4
In the table,
MR: Marginal Revenue
MPP: Marginal Physical Product
-According to Table 14.4, how many laborers should be hired if the wage rate is $18? (Marginal revenue product = MPP X MR)
A) 2
B) 3
C) 4
D) 5
E) 6
Correct Answer:
Verified
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