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Question
Scenario 14.2:A firm can hire labor at the minimum wage of $4.25 per hour. Assume that labor works 8 hours a day. The firm's production function is as follows:
Number of Days Number of Units
of Labor of Output
0 0
1 8
2 15
3 21
4 26
5 30
Refer to Scenario 14.2. What is the marginal revenue product of the 4th worker?
A) 20
B) 25
C) 30
D) 32.5
E) 35
Answer
This answer is hidden. It contains 1 characters.
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