Marginal Marginal Physical Product (output per week) 150 Revenue Labor Input (workers per week) 25 MR 9.00 26 140 8.50 27 130 8.00 28 120 7.50 29 110 7.00 Refer to the above table. What does the marginal revenue product equal when 26 workers are hired a week? $1190 $8.50 $221 $26

Marginal Marginal Physical Product (output per week) 150 Revenue Labor Input (workers per week) 25 MR 9.00 26 140 8.50 27 130 8.00 28 120 7.50 29 110 7.00 Refer to the above table. What does the marginal revenue product equal when 26 workers are hired a week? $1190 $8.50 $221 $26

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter10: Labor Markets And Income Distribution

Section: Chapter Questions

Problem 4SQP

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Question

Marginal
Labor Input
(workers per week)
25
Marginal
Physical Product
(output per week)
150
Revenue
MR
9.00
26
140
8.50
27
130
8.00
28
120
7.50
29
110
7.00
Refer to the above table. What does the marginal revenue product equal when 26 workers are hired a week?
$1190
$8.50
$221
$26
O000

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