The marginal revenue product (per week) of hiring an additional craftsperson is closest to: A. ( 100).
Question:
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
Economics For Investment Decision Makers
ISBN: 9781118111963
1st Edition
Authors: Sandeep Singh, Christopher D Piros, Jerald E Pinto
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