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Labor Output MP of labor MRP labor Wage Marginal Profit 0 0 NA NA NA NA 1 4 4 40 30 10 2 10 30
Labor | Output | MP of labor | MRP labor | Wage | Marginal Profit |
---|---|---|---|---|---|
0 | 0 | NA | NA | NA | NA |
1 | 4 | 4 | 40 | 30 | 10 |
2 | 10 | 30 | |||
3 | 5 | 50 | 30 | ||
4 | 3 | 30 | 0 | ||
5 | 20 | ||||
6 | 21 | 1 | 30 | -20 |
Consider the table above. What is the price of the final good?
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