The Following Table Shows the Marginal Productivity of Different Units

question 102

Multiple Choice

The following table shows the marginal productivity of different units of labor for producing a product.Table 14.4
In the table,
MR: Marginal Revenue
MPP: Marginal Physical Product

-In Table 14.4, if marginal revenue product is equal to the product of MPP and MR, what wage rate would be consistent with a profit-maximizing firm hiring six laborers?

• A)$6
• B)$10
• C)$12
• D)$18
• E)$24

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Definitions:

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Occipital Lobe

The area of the brain situated at the rear of the head, tasked with interpreting visual data received from the eyes.

Faculty Psychology

The theory that different mental abilities, such as reading and computation, are independent and autonomous functions carried out in different parts of the brain.

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