Number of workers (per hour) total output(per hour) marginal physical product (output per worker) total revenue(dollars per hour) marginal revenue product (output per worker)

1 4 ...... ______ ........

2 10 ______ ______ ______

3 15 ______ ______ ______

4 19 ______ ______ ______

5 22 ______ ______ ______

Table $30.1$ Assume that the product price is $4 per unit and that the hourly wage for workers is $12.Neither price nor wage changes with output.In Table 30.1, the marginal revenue product of the second worker hired is A) $4 per hour. B) $6 per hour. C) $24 per hour. D) $40 per hour.

Question

Number of workers (per hour)	total output(per hour)	marginal physical product (output per worker)	total revenue(dollars per hour)	marginal revenue product (output per worker)
1	4	......	______	........
2	10	______	______	______
3	15	______	______	______
4	19	______	______	______
5	22	______	______	______

Table $30.1$ Assume that the product price is $4 per unit and that the hourly wage for workers is $12.Neither price nor wage changes with output.In Table 30.1, the marginal revenue product of the second worker hired is A) $4 per hour. B) $6 per hour. C) $24 per hour. D) $40 per hour.

Quizplus · Accepted Answer

The marginal revenue product (MRP) of the second worker is calculated by the increase in total output due to the second worker, multiplied by the product price. The increase in total output from the first to the second worker is 6 units (from 4 to 10 units). Given the product price is $4 per unit, the MRP of the second worker is 6 units * $4/unit = $24.