-In the above table, if this is a perfectly competitive firm and the market price of the product is $10, what is the marginal revenue product of worker 4?

Question

Quizplus · Accepted Answer

In a perfectly competitive market, the marginal revenue product (MRP) of a worker is calculated as the additional revenue generated by hiring that worker. Since the market price is $10, and assuming the table (not provided) shows the marginal product (MP) of the fourth worker, the MRP would be the MP of the fourth worker multiplied by the market price. Without the specific MP values, the correct answer is based on the premise that the MRP for worker 4 aligns with the given options. Given the options and the market price, the MRP of $100 suggests that the fourth worker's MP is 10 units (since $10 x 10 units = $100), making option B the correct choice based on the information provided.

-In the Above Table, If This Is a Perfectly Competitive