Use Table: Marginal Revenue Product. The table lists the number of workers and the marginal revenue product per hour that is generated by each worker for a firm in a perfectly competitive market. If we know that the firm is hiring five workers, then the wage of labor is greater than _____ and less than or equal to:

A) $4; $10.
B) $10; $14.
C) $14; $18.
D) $18; $22.

Question

Use Table: Marginal Revenue Product. The table lists the number of workers and the marginal revenue product per hour that is generated by each worker for a firm in a perfectly competitive market. If we know that the firm is hiring five workers, then the wage of labor is greater than _____ and less than or equal to:
 ​
A) $4; $10. 
B) $10; $14. 
C) $14; $18. 
D) $18; $22.

Quizplus · Accepted Answer

The Answer of Use Table: Marginal Revenue Product. The table lists the number of workers and the marginal revenue product per hour that is generated by each worker for a firm in a perfectly competitive market. If we know that the firm is hiring five workers, then the wage of labor is greater than _____ and less than or equal to:
 ​
A) $4; $10. 
B) $10; $14. 
C) $14; $18. 
D) $18; $22.