Question
tephanie produces earrings. Shesells each pair of earrings for $4. The table below shows how many pairs of earrings can be produced, depending on the
tephanie produces earrings. Shesells each pair of earrings for $4. 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 (workers) | Total Product (pairs of earrings) | Marginal Product (pairs of earrings) | Price (dollars) | Total Revenue (dollars) | Marginal Revenue Product (dollars) |
| 0 | 0 | $4 | $0 | ||
| 1 | 30 | 30 | 4 | $ | |
| 2 | 41 | 11 | 4 | ||
| 3 | 50 | 9 | 4 | ||
| 4 | 58 | 8 | 4 | ||
| 5 | 64 | 6 | 4 | ||
| 6 | 67 | 3 | 4 | ||
| 7 | 67 | 0 | 4 |
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Mining And The State In Brazilian Development
Authors: Gail D Triner
1st Edition
1317323580, 9781317323587
