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Author Question: The table below shows the total production for varying numbers of hours worked producing yo-yos. The ... (Read 79 times)

dabomba718

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on: Oct 12, 2022

Question 1

Suppose the last unit of a factor of production employed has a marginal product of 12. The factor's price is $8, and the product's competitive market price is $6. This factor's marginal revenue product is
◦ $96.
◦ $36.
◦ $48.
◦ $72.
◦ $6.

Question 2

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.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by dabomba718 on Oct 12, 2022

ElaneShive

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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dabomba718

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

shewald78

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Reply 3 on: Yesterday
:D TYSM

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