Question
In this Decision Point activity, you explored the value of your labor and how you value other's labor. Use what you learned in the decision
In thisDecision Pointactivity, you explored the value of your labor and how you value other's labor. Use what you learned in the decision point activity to answer the following question.
Ramone's Drones Inc. makes local deliveries using small drones. Ramone is looking to hire an additional pilot to help with increased delivery needs. He currently brings in $8000 per month, but with the new pilot, thinks he'll be able to increase his revenue to $9250 per month.
What is the monthly marginal revenue from hiring the additional pilot, which is referred to as the marginal revenue product of labor or MRPL?
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