Refer to the table and information provided above. What is the marginal revenue product of the fifth

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Refer to the table and information provided above. What is the marginal revenue product of the fifth worker? 1 Mark
Refer to the table and information provided above.What is the marginal revenue product of the sixth worker? 1 Mark
Refer to the table and information provided above. How many workers will the firm hire if the wage rate is $8 per day? 1 Mark
A firm operating in a perfectly competitive labour market has the marginal revenue product schedule shown below.If the wage rate decreases from $17 to $11, how many more workers will the firm hire? 2 Mark

Workers	MRP
1	$24
2	22
3	20
4	18
5	16
6	14
7	12

Posted Date: Jun 21, 2024 10:09 AM

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Refer to the table and information provided above. What is the marginal revenue product of the fifth

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