A profit-maximizing clothing producer in a remote area is the only employer of people in that area.

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A profit-maximizing clothing producer in a remote area is the only employer of people in that area. It sells its clothing in a perfectly competitive market. The firm pays each worker the same weekly wage rate. The last worker hired raised the firm's total weekly wage expenses from $105,600 to $106,480. What is the marginal revenue product of the last worker hired by this firm if it is maximizing profits?
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Economics Today

ISBN: 978-0132554619

16th edition

Authors: Roger LeRoy Miller

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