Question 9 (1 point)

Retake question

Holding capital fixed at K=2 units, the firm's production table shows when labor units (L) = 1, output (Q)=5; L=2, Q=11; L=3, Q=16; L=4, Q=20; L=5, Q=22. Also, the firm can sell each unit of output at a price P=$2. If so, the Marginal Revenue Product of Labor MRPL for the 4th labor unit is ______

Question 9 options:

a)

$6

b)

$12

c)

$8

d)

$4