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Figure 17-1 shows the marginal revenue product for Dale's Hand-Sewn Doilies, a producer of linen ...

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Figure 17-1 shows the marginal revenue product for Dale's Hand-Sewn Doilies, a producer of linen ...

Question 1.

Figure 17-1

Figure 17-1 shows the marginal revenue product for Dale's Hand-Sewn Doilies, a producer of linen doilies.

Refer to Figure 17-1. If the wage rate is $40, how many workers should Dale hire?

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Question 2.

Figure 17-1

Figure 17-1 shows the marginal revenue product for Dale's Hand-Sewn Doilies, a producer of linen doilies.

Refer to Figure 17-1. If Dale can sell her doilies at $2 each, what is the marginal product of the 5th worker?

▸

$56

▸

14 doilies

▸

$28

▸

28 doilies

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InMicro

Edition: 1^st

Authors: Hubbard, O'Brien

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