mengelhart79owccrj mengelhart79owccrj

31-05-2024
Mathematics

Answered

Stephanie produces earrings. She sells each pair of earrings for $6. The table below shows how many pairs of earrings can be produced, depending on the number of workers Stephanie hires. Fill in the “Total Revenue” and “Marginal Revenue Product” columns using the information given. Assume this is a perfectly competitive market. Instructions: Enter your answers as a whole number. Stephanie's Earring Shop and Revenues Labor (workers)Total Product (pairs of earrings)Marginal Product (pairs of earrings)Price (dollars)Total Revenue (dollars)Marginal Revenue Product (dollars) 00—$6$0— 127276 $ 247206 365186 482176 597156 6109126 711896

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