Using the information in the following table, calculate the marginal revenue product (MRP = MPP x MR) (see attachment for table).
MPP = change in output/change in resource
MR = change in revenue/change in quantity
The number of units of resources the firm will want to acquire?
Please see the attachment.
There were certain cells in which you made a mistake. I have changed them into red.
Coming to the problem at hand you just need to use one simple rule: any firm ...
Provides steps necessary to determine marginal revenue product.