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14 August, 05:06

Assume labor is the only variable input and that an additional input of labor increases total output from 72 to 78 units. if the product sells or $6 per unit in a purely competitive market, the mrp of this additional worker is

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  1. 14 August, 05:31
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    The MRP of this additional work is "$36".

    labor increases total output from = 72 to 78 units

    = 78 - 72 = 6

    $6 per unit in a purely competitive market

    MRP = 6 x 6 = $36
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