Multiple Choice
You operate a shop that repairs TVs and VCRs.The going wage rate in a competitive market for skilled repair people is $18 per hour.Given the current demand for your services,the marginal revenue product of your repair people is $28 per hour.
-If you were to employ one more hour of a repair person's services you would
A) increase your profit by $28.
B) increase your profit by $18.
C) increase your profit by $10.
D) not increase your profit at all.
E) decrease your profit.
Correct Answer:
Verified
Correct Answer:
Verified
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