Suppose a competitive firm can hire a new worker to produce 10 extra units of production by paying him $ 20. If the price of the good that is produced is $ 12, the income from the marginal product of this additional worker is: Response option group a) $ 60 b) $ 30 c) $ 120 d) $ 50 e) It is not possible to determine it with the information provided.

Suppose a competitive firm can hire a new worker to produce 10 extra units of production by paying him $ 20. If the price of the good that is produced is $ 12, the income from the marginal product of this additional worker is: Response option group a) $ 60 b) $ 30 c) $ 120 d) $ 50 e) It is not possible to determine it with the information provided.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter6: Simple Pricing

Section: Chapter Questions

Problem 6MC

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