Assume labor is the only variable input and that an additional input of labor increases total output from 72 to 78 units. if the

Question

vovangra [49]

4 years ago

15

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

Business

1 answer:

Anarel [89] · Answer 1 · 2021-11-13T15:58:16+03:00

Anarel [89]4 years ago

7 0

The MRP of this additional work is "$36".

<span>labor increases total output from = 72 to 78 units
= 78 - 72 = 6
</span><span>$6 per unit in a purely competitive market
MRP = 6 x 6 = $36</span>