Answered

Welcome to Westonci.ca, your go-to destination for finding answers to all your questions. Join our expert community today! Our platform provides a seamless experience for finding reliable answers from a knowledgeable network of professionals. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

The marginal product of labor for Acme, Inc. is 15. The average product of labor is 25, and the price of labor is $10. Assuming that Acme, Inc. is a competitor in its output and input markets, the marginal revenue product of labor:

Sagot :

Answer:

cannot be determined

Explanation:

The computation of the marginal revenue product of labor is given below;

we know that

Marginal revenue product = MR × MP

Here

MP= 15

But MR is not given.

So without MR, the marginal revenue product cant be determined

Therefore it is cannot be determined

Hence, the same is relevant

Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.