The first table depicts the output of a firm that manufactures wireless earbuds. The earbuds sell for
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The first table depicts the output of a firm that manufactures wireless earbuds. The earbuds sell for $3 each.
Calculate the marginal product and marginal rev- enue product at each input level above 10 units. What is the maximum wage the firm will be will- ing to pay if it hires 15 workers?
Transcribed Image Text:
Labor Input (workers per hour) 10 11 12 13 14 15 16 Total Output (earbuds per hour) 200 218 234 248 260 270 278
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