The marginal product of hiring a fourth worker is 40 units of output. The wage rate is $15, and the price of output is $2. How much will the fourth worker increase the firm's revenue? $30 $40 $60 $20 $80

The marginal product of hiring a fourth worker is 40 units of output. The wage rate is $15, and the price of output is $2. How much will the fourth worker increase the firm's revenue? $30 $40 $60 $20 $80

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter11: Labor Markets

Section: Chapter Questions

Problem 18SQ

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Question

The marginal product of hiring a fourth worker is 40 units of output. The wage rate is $15, and the
price of output is $2. How much will the fourth worker increase the firm's revenue?
$30
$40
$60
$20
$80

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