If the price per bushel of wheat is $3 and the marginal product of labor is four bushels per hour, then what is the hourly wage?
A) $0.75
B) $1.33
C) $12
D) four bushels

Name: If the price per bushel of wheat is $3 and the marginal product of labor is four bushels per hour, then what is the hourly wage? A) $0.75 B) $1.33 C) $12 D) four bushels
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Question

Quizplus · Accepted Answer

The hourly wage can be calculated by multiplying the price per bushel of wheat ($3) by the marginal product of labor (4 bushels per hour), which equals $12.

If the Price Per Bushel of Wheat Is $3 and the Marginal