The marginal revenue product (per week) of hiring an additional craftsperson is closest to: A. ( 100).

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The marginal revenue product (per week) of hiring an additional craftsperson is closest to:

A. \(€ 100\).

B. \(€ 900\).

C. \(€ 1,000\).

A firm produces handcrafted wooden chairs, employing both skilled craftspersons and automated equipment in its plant. The selling price of a chair is \(€ 100\). A craftsperson earns \(€ 900\) per week and can produce 10 chairs per week. Automated equipment leased for \(€ 800\) per week also can produce 10 chairs per week.

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Related Book For  answer-question

Economics For Investment Decision Makers

ISBN: 9781118111963

1st Edition

Authors: Sandeep Singh, Christopher D Piros, Jerald E Pinto

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