Number of Workers Output 1 20 2 30 3 38 4 42 5 44 If the price of output falls f

Question

Number of
Workers Output 1 20 2 30 3 38 4 42 5 44 If the price of output falls from $5 to $2, the value of the marginal product of labor of all workers a. remains unchanged. b. increases at an increasing rate. c decreases. d. increases. e. decreases at an increasing rate. If the price of output falls from $5 to $2, the value of the marginal product of labor of all workers remains unchanged. increases at an increasing rate. decreases. increases. decreases at an increasing rate. Number of
Workers Output 1 20 2 30 3 38 4 42 5 44

Explanation / Answer

Answer
Option c
decrease

the marginal product of n labor=(total product of n labor - the total product of p labor)/(n-p)............(n>p)
Marginal revenue product=marginal product*price

Number of Output MP MRP, P=5 MRP, P=2 Workers 1 20 20 100 40 2 30 10 50 20 3 38 8 40 16 4 42 4 20 8 5 44 2 10 4

Related Questions

Navigate

• Browse (All)
• Browse N
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.