Suppose two workers can harvest $46 and three workers can harvest $60 worth of apples per day. On the basis of this information we can say that the rev: 06_13_2018 Multiple Choice marginal product of each of the first two workers is 23. marginal revenue product of each of the first two workers is $23. marginal revenue product of the third worker is $14. third worker should not be hired.

Question

Rayna Howell

Business

13 June, 22:40

Suppose two workers can harvest $46 and three workers can harvest $60 worth of apples per day. On the basis of this information we can say that the rev: 06_13_2018 Multiple Choice marginal product of each of the first two workers is 23. marginal revenue product of each of the first two workers is $23. marginal revenue product of the third worker is $14. third worker should not be hired.

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Answers (2)

Know the Answer?

Danica Blackwell · Answer 1

Marginal revenue product of the third worker is $14

Is the increase in revenue that results from the ale of one additional unit of output.

Nathalia Conway · Answer 2

marginal revenue product of the third worker is $14

Explanation:

Given;

Two workers can harvest $46 worth of apples per day

The addition of a third worker to the two results in an harvest of $60 worth of apples per day.

Marginal product's worth is equivalent to the differential products worth on addition of the third worker.

Marginal products' worth = $60 - $46 = $14

The marginal revenue product of the third worker is $14.