A firm produces handcrafted wooden chairs, employing both skilled craftspersons and automated equipment in its plant. The selling price of a chair is h100. A craftsperson earns h900 per week and can...


A firm produces handcrafted wooden chairs, employing both skilled craftspersons and automated equipment in its plant. The selling price of a chair is h100. A craftsperson earns h900 per week and can produce 10 chairs per week. Automated equipment leased for h800 per week also can produce 10 chairs per week


The marginal revenue product (per week) of hiring an additional craftsperson is closest to:


A. h100.


B. h900.


C. h1,000.


Nov 24, 2021
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