Question

Question 34 (2 points) aved Quantity MP of MRP of of Labor Labor Labor Quantity of Capital MP of MRP of Capital Capital 1 15 $45 1 8 $24 2 12 36 2 6 18 3 9 27 3 5 15 4 6 18 4 4 12 5 3 9 5 3 6 6 1 3 6 2 6 Refer to the data above. If the prices of labor and capital are $9 and $15 respectively, at the profit-maximizing level of output the firm's total revenue will be: A) $114. B) $129. C) $180. D) $192.

          Question 34 (2 points)

aved
Quantity MP of MRP of
of Labor Labor Labor
Quantity of
Capital
MP of MRP of
Capital Capital
1
15
$45
1
8
$24
2
12
36
2
6
18
3
9
27
3
5
15
4
6
18
4
4
12
5
3
9
5
3
6
6
1
3
6
2
6
Refer to the data above. If the prices of labor and capital are $9 and $15 respectively, at the
profit-maximizing level of output the firm's total revenue will be:
A) $114.
B) $129.
C) $180.
D) $192.

Question 34 (2 points)

aved
Quantity MP of MRP of
of Labor Labor Labor
Quantity of
Capital
MP of MRP of
Capital Capital
1
15
45
1
824
2
12
36
2
6
18
3
9
27
3
5
15
4
6
18
4
4
12
5
3
9
5
3
6
6
1
3
6
2
6
Refer to the data above. If the prices of labor and capital are 9 and15 respectively, at the
profit-maximizing level of output the firm's total revenue will be:
A) 114.
B)129.
C) 180.
D)192.

Added by Michael A.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Basques Licit

Step 1

For the first row, the quantity of labor is 15 and the quantity of capital is 2. The MP of Labor is 12 (36/3) and the MP of Capital is 8 (24/3). For the second row, the quantity of labor is 12 and the quantity of capital is 3. The MP of Labor is 9 (27/3) and the Show more…

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Question (points) Saved Quantity MP of MRP of Labor Quantity of Labor MP of Labor MRP of Capital 15 $45 Capital Capital 2 1 12 8 36 $24 3 2 9 6 27 18 4 3 6 5 18 15 4 3 4 9 12 6 5 1 3 3 9 6 2 6 profit-maximizing level of output the firm's total revenue will be: Refer to the data above. If the prices of labor and capital are $9 and $15 respectively, at the A$114 B$129 C$180 DS192 a e LM