Management and Economics

Question Consider the table below Number of workers Output O 30 6 72 9 81 12 120 15 240 18 342 21 357 24 360 27 351 The wage rate is R300 and the price of output is R6.5 Required a. Identify the 3 stages of production from the table. (Hint: Remember that you need to first calculate MPI and APL) /15/ b. Calculate the marginal revenue product of labour (MRPL). /4.5/