Exhibit 13-7 (1) (2) (3) Number of Workers Wage Rate Marginal Revenue Product 10 $4 $19...
Exhibit 13-7
|
(1) |
(2) |
(3) |
|
Number of |
Wage |
Marginal |
|
10 |
$4 |
$19 |
|
20 |
$5 |
$17 |
|
30 |
$6 |
$15 |
|
40 |
$7 |
$13 |
|
50 |
$8 |
$12 |
|
60 |
$9 |
$9 |
Refer to Exhibit 13-7. The marginal factor cost (per worker) of increasing employment from 10 to 20 workers is
$1.
$10.
$2.
$50.
Homework Answers
Answer : The answer is option A.
At 10 workers employment level the per worker wage rate is $4. At 20 workers employment level the per worker wage rate is $5.
Per worker marginal factor cost from 10 to 20 workers employment level = Per worker wage rate at 20 workers - Per worker wage rate at 10 workers = 5 - 4 = $1.
Therefore, option A is correct.
Add Answer to:
Exhibit 13-7
(1)
(2)
(3)
Number of
Workers
Wage
Rate
Marginal
Revenue Product
10
$4
$19...
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