marginal revenue product
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Units of Resource
Resources Total Output Price ResourcePrice
1 10 $5 $10
2 25 $5 $10
3 35 $5 $10
4 40 $5 $10
5 40 $5 $10
A. calculate the marginal revenue product (MRP = MPP * MR)
B. Using the data in A, determine how many units
of resources the firm will want to acquire.
C. Suppose the output price falls from $5 to $4 to $3 to $1
in exercise A. How would that change your answers to
exercises A and B?
D. Using the data in A, calculate the marginal
factor cost.
E. Suppose the resource price rises from $10 to $12 to $14
to $18 to $20 as resource units go from 1 to 5. How
would that change your answer to exercise D? How
would it change your answer to exercise B?
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