Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please dont solve if you are not 100% sure, i will downvote if answer is wrong manufacturing firm faces a demand schedule p = 12,000
please dont solve if you are not 100% sure, i will downvote if answer is wrong manufacturing firm faces a demand schedule p = 12,000 - 900x and its production function is x = [1/3, where I is labour. Currently the firm employs 64 labourers. Find the marginal revenue product of labour.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started