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 the marginal product of the fourth worker is 6, then we can conclude that the price of the good is:

A) $2.
B) $3.
C) $4.
D) $5.

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 the marginal product of the fourth worker is 6, then we can conclude that the price of the good is:
 ​
A) $2. 
B) $3. 
C) $4. 
D) $5.

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 the marginal product of the fourth worker is 6, then we can conclude that the price of the good is:
 ​
A) $2. 
B) $3. 
C) $4. 
D) $5.