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Answer the question on the basis of the following output data for a firm. Assume that the amounts of all nonlabor resources are fixed. If the price of output is $ 15, the Marginal Revenue product of Labors (MRPL) of the fourth labor equals to- Labors Output (TPL) 40 90 126 150 165 2 170 A. $540 B. $360 C. $225 D. $150

Answer the question on the basis of the following output data for a firm. Assume that the amounts of all nonlabor resources are fixed. If the price of output is $ 15, the Marginal Revenue product of Labors (MRPL) of the fourth labor equals to- Labors Output (TPL) 40 90 126 150 165 2 170 A. $540 B. $360 C. $225 D. $150

ECON MICRO
ECON MICRO
5th Edition
ISBN:9781337000536
Author:William A. McEachern
Publisher:William A. McEachern
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 3.7P
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QUESTION 1 Answer the question on the basis of the following output data for a firm. Assume that the amounts of all nonlabor resources are fixed. If the price of output is $ 15, the Marginal Revenue product of Labors (MRPL) of the fourth labor equals to- Labors Output (TPL) 40 90 126 1 150 15 165 170 O A. $540 B. $360 O C. $225 D. $150 23/4
Transcribed Image Text:QUESTION 1 Answer the question on the basis of the following output data for a firm. Assume that the amounts of all nonlabor resources are fixed. If the price of output is $ 15, the Marginal Revenue product of Labors (MRPL) of the fourth labor equals to- Labors Output (TPL) 40 90 126 1 150 15 165 170 O A. $540 B. $360 O C. $225 D. $150 23/4
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