Top Posters
Since Sunday
5
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
itpf04 itpf04
wrote...
Go to Answer
Posts: 137
Rep: 0 0
A year ago
The table below shows the total production for varying numbers of hours worked producing yo-yos. The firm sells its product and hires its workers in competitive markets.

Number of
 Hours Worked		Number of 
Yo-Yos 
Produced		Wage Rate
per Hour (S)		Price of Yo-Yos
($)
1060105
1170105
1278105
1384105
1488105
1590105
TABLE 13-4

Refer to Table 13-4. A profit-maximizing firm will continue to hire labour to produce yo-yos until they have equated

▸ the marginal revenue product of an additional hour of labour and the price of yo-yos.

▸ the wage rate per hour and the marginal product of labour.

▸ the marginal product of an additional hour of labour and the price of the yo-yos.

▸ the price of yo-yos and the wage rate per hour.

▸ the wage rate per hour and the value of the yo-yos produced by hiring one additional hour of labour.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
Read 36 times
1 Reply
Replies
Answer verified by a subject expert
gagan17gagan17
wrote...
#1
Posts: 162
Rep: 1 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

itpf04 Author
wrote...

A year ago
This site is awesome
MAry1395
wrote...

Yesterday
Thank you, thank you, thank you!
annakc
wrote...

2 hours ago
Correct Slight Smile TY
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1258 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 142
  
 295
  
 164
Your Opinion
What's your favorite math subject?
Votes: 293
Previous poll results: Which of the following is the best resource to supplement your studies: