Ramone's Drones Inc. makes local deliveries using small drones. Ramone is looking to hire an additional pilot to help with increased delivery needs. He currently brings in $8750 per month, but with the new pilot, thinks he'll be able to increase his revenue to $10000 per month. What is the monthly marginal revenue from hiring the additional pilot, which is referred to as the marginal revenue product of labor or MRPL? In this Decision Point activity, you explored the value of your labor and how you value other's labor. Use what you learnedin the decision point activity to answer the following question.Ramone's Drones Inc. makes local deliveries using small drones. Ramone is looking to hire an additional pilot to help withincreased delivery needs. He currently brings in $8750 per month, but with the new pilot, thinks he'll be able to increase hisrevenue to $10000 per month.What is the monthly marginal revenue from hiring the additional pilot, which is referred to as the marginal revenue productof labor or MRPL?MRPL: $

Given, Previous revenue = $8,750 per month After hiring new pilot revenue = $10,000 per month

Answered: Ramone's Drones Inc. makes local…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 6P

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Ramone's Drones Inc. makes local deliveries using small drones. Ramone is looking to hire an additional pilot to help with increased delivery needs. He currently brings in $8750 per month, but with the new pilot, thinks he'll be able to increase his revenue to $10000 per month.

What is the monthly marginal revenue from hiring the additional pilot, which is referred to as the marginal revenue product of labor or MRP_L?

In this Decision Point activity, you explored the value of your labor and how you value other's labor. Use what you learned
in the decision point activity to answer the following question.
Ramone's Drones Inc. makes local deliveries using small drones. Ramone is looking to hire an additional pilot to help with
increased delivery needs. He currently brings in $8750 per month, but with the new pilot, thinks he'll be able to increase his
revenue to $10000 per month.
What is the monthly marginal revenue from hiring the additional pilot, which is referred to as the marginal revenue product
of labor or MRPL?
MRPL: $

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