In order to find the marginal revenue product when one worker is added to a team of 11 workers requires looking at the last two rows of the table. Notice that the Price is in Average terms. Therefore, you must multiply that column by the units produced. Then, subtract the revenue from using a team of 12 from that of using a team of 11 members: $49.00 * 25 total product units for a team of 11 members = 1225.00 $47.50 * 28 total product units for a team of 12 members = 1330.00 $1330.00-$1225.00 = $105.00 The marginal revenue product of adding a member to the team of 11.
In order to find the marginal revenue product when one worker is added to a team of 11 workers requires looking at the last two rows of the table. Notice that the Price is in Average terms. Therefore, you must multiply that column by the units produced. Then, subtract the revenue from using a team of 12 from that of using a team of 11 members. The answer is $105.00.
In order to find the marginal revenue product when one worker is added to a team of 11 workers requires looking at the last two rows of the table. Notice that the Price is in Average terms. Therefore, you must multiply that column by the units produced. Then, subtract the revenue from using a team of 12 from that of using a team of 11 members. The answer is $105.00.
In order to find the marginal revenue product when one worker is added to a team of 11 workers requires looking at the last two rows of the table. Notice that the Price is in Average terms. Therefore, you must multiply that column by the units produced. Then, subtract the revenue from using a team of 12 from that of using a team of 11 members. The answer is $105.00.
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The marginal revenue product when one worker is added to a team of 11 workers is
