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parneetgill parneetgill
wrote...
Posts: 468
4 years ago

Question 1.

The benefit to the firm from hiring one additional worker is called the



marginal revenue.



total revenue.



marginal profit.



marginal revenue product of labor.



Question 2.

Figure 17-2



Figure 17-2 shows the marginal revenue product for Becca's Baubles, a producer of hand-beaded bracelets.



Refer to Figure 17-2. If the wage rate is $20, how many workers should Becca hire?



6



5



4



3

Textbook 
InMicro

InMicro


Edition: 1st
Authors:
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GparkerGparker
wrote...
Posts: 383
4 years ago
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