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Use Figure: Marginal Revenue Product and Labor Demand

Question 63

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Use Figure: Marginal Revenue Product and Labor Demand. The figure shows the marginal revenue product per hour of labor for a competitive firm. If hiring 40 workers per hour maximizes the firm's profit, then the market wage is _____ per hour.
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Figure: Marginal Revenue Product and Labor Demand
Use Figure: Marginal Revenue Product and Labor Demand. The figure shows the marginal revenue product per hour of labor for a competitive firm. If hiring 40 workers per hour maximizes the firm's profit, then the market wage is _____ per hour. ​ Figure: Marginal Revenue Product and Labor Demand A) $4 B) $8 C) $12 D) $16


A) $4
B) $8
C) $12
D) $16

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