5. A competitive firm sells its output for $45 per unit. The marginal product of th nits of output per day; the marginal product of the 31st worker is 3 units of outp ays its workers a wage of $150 per day. . for the 31st worker, the marginal profit is $135 . for the 30th worker, the value of the marginal product of labor is $600 for the 30th worker, the marginal profit is $180 |. none of the above is correct
5. A competitive firm sells its output for $45 per unit. The marginal product of th nits of output per day; the marginal product of the 31st worker is 3 units of outp ays its workers a wage of $150 per day. . for the 31st worker, the marginal profit is $135 . for the 30th worker, the value of the marginal product of labor is $600 for the 30th worker, the marginal profit is $180 |. none of the above is correct
Chapter13: Factor Markets: With Emphasis On The Labor Market
Section13.1: Factor Market
Problem 1ST
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Transcribed Image Text:15. A competitive firm sells its output for $45 per unit. The marginal product of the 30th worker is 4
units of output per day; the marginal product of the 31st worker is 3 units of output per day. The firm
pays its workers a wage of $150 per day.
a. for the 31st worker, the marginal profit is $135
b. for the 30th worker, the value of the marginal product of labor is $600
c. for the 30th worker, the marginal profit is $180
d. none of the above is correct
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