The following table shows data for a perfectly competitive firm. The first column shows the number of workers employed in production, the second column shows the total product of the firm, and the third column shows its product price. From the table, it can be said that the marginal revenue product begins to decline with the second worker hired.

Table 11.3

Question

The following table shows data for a perfectly competitive firm. The first column shows the number of workers employed in production, the second column shows the total product of the firm, and the third column shows its product price. From the table, it can be said that the marginal revenue product begins to decline with the second worker hired.
​
Table 11.3
​

Quizplus · Accepted Answer

The Answer of The following table shows data for a perfectly competitive firm. The first column shows the number of workers employed in production, the second column shows the total product of the firm, and the third column shows its product price. From the table, it can be said that the marginal revenue product begins to decline with the second worker hired.
​
Table 11.3
​

The Following Table Shows Data for a Perfectly Competitive Firm