20. SG store sells its products at a price of $60,000 per unit. it is assumed that labor is the only input that changes. it is known that the marginal product of the 11th worker is 16 units, MU store pays its workers $150,000 per day. What is the value of the marginal product of labor for the 11th worker?
20. SG store sells its products at a price of $60,000 per unit. it is assumed that labor is the only input that changes. it is known that the marginal product of the 11th worker is 16 units, MU store pays its workers $150,000 per day. What is the value of the marginal product of labor for the 11th worker?
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 6P
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![Question
20. SG store sells its products at a price of
$60,000 per unit. it is assumed that labor is the
only input that changes. it is known that the
marginal product of the 11th worker is 16
units, MU store pays its workers $150,000 per
day. What is the value of the marginal product
of labor for the 11th worker?
a. $2,400,000.
b. $480,000.
c $1,200,000.
d. $960,000.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6b896282-3486-4f1d-b28e-9ef0cba7a42f%2F67387554-6f0c-4f8d-b8cd-92f1d21f86c7%2Fayalgs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question
20. SG store sells its products at a price of
$60,000 per unit. it is assumed that labor is the
only input that changes. it is known that the
marginal product of the 11th worker is 16
units, MU store pays its workers $150,000 per
day. What is the value of the marginal product
of labor for the 11th worker?
a. $2,400,000.
b. $480,000.
c $1,200,000.
d. $960,000.
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