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Determinants of Resource Demand Exercise 4 The table below shows the productivity of labor. the revenue generated by the labor. and the cost of labor
Determinants of Resource Demand Exercise 4 The table below shows the productivity of labor. the revenue generated by the labor. and the cost of labor for Ronnie's cookie store. Ronnie's Cookie Store and Revenues Labor Total Product Marginal Product Price Total Revenue Marginal Revenue MRC = Wage (dollars (workers) (cookies) (cookies) (dollars) (dollars) Product (dollars) per day) \"n $0.50 -_-n_n___ \"__ nn__ __ Using the tables listed below, the data table that would indicate an increase in Ronnie's demand for labor due to an increase in labor productivity is: C Table C. 0 Table A. 0 Table D. 0 Table B. Table A Labor Total Product Marginal Product Price Total Revenue Marginal Revenue MRC = Wage (dollars (workers) cookies (cookies) (dollars) dollars Product (dollars) per day) 0 $0 . 40 $0 100 100 0 . 40 40 $40 $40 180 80 0 . 40 72 32 40 U B W N H 240 60 0 . 40 96 24 40 280 40 0 . 40 112 16 40 300 20 0 . 40 120 8 40 Table B Labor Total Product Marginal Product Price Total Revenue Marginal Revenue MRC = Wage (dollars (workers) (cookies (cookies) (dollars) (dollars) Product (dollars) per day) 0 $0 . 50 $0 120 120 0 . 50 60 $60 $40 220 100 0 . 50 110 50 40 Un B W N H 300 80 0 . 50 150 40 40 360 60 0. 50 180 30 40 400 40 0 . 50 200 20 40Labor Total Product Marginal Product Price Total Revenue Marginal Revenue MRC Wage (dollars (workers) (cookies) (cookies) (dollars) (dollars) Product (dollars) Total Product Marginal Product Price Total Revenue Marginal Revenue (workers) (cookies) (cookies) (dollars) (dollars) Product (dollars)
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