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

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

2 10 ______ ______ ______

3 15 ______ ______ ______

4 19 ______ ______ ______

5 22 ______ ______ ______

Table 30.3 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 30.3, 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 worker (per hour)	total output(per hour)	marginal physical product (output per worker)	total revenue(dollars per hour)	marginal revenue product (dollars per worker)
1	4	......	______	........
2	10	______	______	______
3	15	______	______	______
4	19	______	______	______
5	22	______	______	______

Table 30.3 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 30.3, 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 taking the difference in total output when the second worker is added (which is 6 units, from 4 to 10) and multiplying it by the product price ($4). So, MRP = 6 units * $4/unit = $24.