The following table shows output per hour produced by the different units of labor. Table 14.1
The marginal revenue product of a resource is equal to the product of the marginal product of an input and marginal revenue.
According to Table 14.1, if the wage rate is $9 per hour, how many workers should this firm hire?
A) 1
B) 5
C) 4
D) 2
E) 3
Correct Answer:
Verified
Q21: The figure given below shows the marginal
Q26: The figure given below represents the marginal
Q27: The following table shows output per hour
Q28: The following table shows the total output
Q28: The figure given below shows the marginal
Q31: The following table shows the total output
Q32: The figure given below shows the marginal
Q33: The following figure shows the marginal revenue
Q34: The following table shows output per hour
Q36: The figure given below shows the marginal
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