The Table Below Gives Data on Output for a Firm

question 130

Essay

The table below gives data on output for a firm in the short run.The firm is able to hire labor and its TPP is given.Compute the APP, MPP, and MRP for labor if the price of the good is fixed at $12 per unit.
$\begin{array} { c c } \underline {\text { LABOR }} & \underline {\text { TPP }}& \underline {\text { APP }}& \underline { \text { MPP } }& \underline { \text { MRP } } \\1 & 4& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad} \\2 & 9& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad} \\3 & 15& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad} \\4 & 21& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad} \\5 & 26& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad} \\6 & 30& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad} \\7 & 33& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad} \\8 & 35& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad} \\9 & 36& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad} \\\end{array}$

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Definitions:

Price

The financial sum foreseen, demanded, or offered in compensation for something.

Rental Outlets

Businesses that offer goods or services for temporary use in exchange for payment.

Complements

Goods or services that are used together, where the increase in consumption of one results in an increase in consumption of the other.

Price of Gas

The price of gas refers to the cost per unit of gasoline, which can fluctuate based on factors such as crude oil prices, supply and demand dynamics, taxes, and refinery operations.