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justxdrive justxdrive
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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. If plotted on a graph, the marginal revenue product curve for the "number of hours worked" would be the same as

▸ the firm's demand curve for hours worked, and would be downward sloping and linear.

▸ the firm's marginal revenue curve, and would be horizontal at $5 because this firm is operating in a competitive labour market.

▸ the firm's demand curve for yo-yos, and would be downward sloping and linear.

▸ the firm's marginal product curve, and would be downward sloping and convex to the origin.

▸ the firm's marginal product curve, and would be downward sloping and concave to the origin.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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KFordKFord
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A year ago
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justxdrive Author
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A year ago
Thank you, thank you, thank you!
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You make an excellent tutor!
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Helped a lot
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