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Marginal Revenue Product Exercise 1 (Algo) Stephanie produces earrings. She sells each pair of earrings for $5. The table below shows how many pairs of

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Marginal Revenue Product Exercise 1 (Algo) Stephanie produces earrings. She sells each pair of earrings for $5. The table below shows how many pairs of earrings can be produced, depending on the number of workers Stephanie hires. Fill in the "Total Revenue" and "Marginal Revenue Product" columns using the information given. Assume this is a perfectly competitive market. Instructions: Enter your answers as a whole number. Stephanie's Earring Shop and Revenues Labor Total Product (pairs Marginal Product Price Total Revenue Marginal Revenue (workers) of earrings) (pairs of earrings) (dollars) (dollars) Product (dollars) 0 0 $ 5 $0 20 20 5 $ N 34 14 5 w 46 12 5 57 11 5 O UT A 66 9 72 75 w

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