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25 November, 20:44

Suppose two workers can harvest $46 and three workers can harvest $60 worth of apples per day. On the basis of this information we can say that the rev: 06_13_2018 Multiple Choice marginal product of each of the first two workers is 23. marginal revenue product of each of the first two workers is $23. marginal revenue product of the third worker is $14. third worker should not be hired.

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  1. 25 November, 21:44
    0
    marginal revenue product of the third worker is $14

    Explanation:

    Given;

    Two workers can harvest $46 worth of apples per day

    The addition of a third worker to the two results in an harvest of $60 worth of apples per day.

    Marginal product's worth is equivalent to the differential products worth on addition of the third worker.

    Marginal products' worth = $60 - $46 = $14

    The marginal revenue product of the third worker is $14.
  2. 25 November, 22:51
    0
    Marginal revenue product of the third worker is $14

    Is the increase in revenue that results from the ale of one additional unit of output.
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