The Following Table Shows the Total Physical Product of Labor

question 41

Essay

The following table shows the total physical product of labor.Compute the marginal physical product of labor and the marginal revenue product of labor at output prices of $10 per unit and $12 per unit.If labor costs $105 per unit, how much should the firm hire at each price of output?
$\begin{array}{ccccc}\text { Total Physical } & \text { MRP at a } & \text { MRP at a } && \text { Product } \\ \underline {\text { MPP of Labor }} & \underline {\text { Price of } \$ 10 }& \underline {\text { Price of } \$ 12} & \underline {\text { Labor } }& \underline { \text { of Labor }}\\1 & 10& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}\\2 & 22 & \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}\\3 & 35 & \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}\\4 & 47& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}\\5 & 58 & \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}\\6 & 68 & \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}\\7 & 77 & \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}\\8 & 85& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}& \underline {\quad\quad\quad}\\\end{array}$

---

Definitions:

Telephone Sampling Frames

A list or database of telephone numbers from which a sample is drawn for the purpose of conducting research via phone calls.

Landline

A phone that is connected to the phone system via physical telephone wires.

Sample Size

The number of individuals or observations included in a sample for the purposes of research.

Credible Research

entails studies or information derived from rigorously tested methods and trusted sources, ensuring reliability and validity.