If frank is maximizing profits what is the marginal revenue, Ask an Expert

Economics

Frank Gunter owns an apple orchard. He employs 57 apple pickers and pays them $15 per hour to pick apples, which he sells for $3.00 per box. If Frank is maximizing profits, what is the marginal revenue product of the last worker he hired? What is that worker's marginal product?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M947898

Have any Question?

Related Questions in Microeconomics

Question from the end of world war ii through the late

Question: From the end of World War II through the late 1980s, wage and price gains in the US always accelerated when the economy reached full employment. However, that did not happen in the 1990s. Part of the reason wag ...

Question - the shadow banking system is larger and has

Question - The "shadow banking system" is larger (and has become more important to the US money and capital markets) than the commercial banking system. But, unlike commercial banks, many types of "shadow banks" ---money ...

Question given recent trends what are the near-term

Question: Given recent trends, what are the near-term prospects for the U.S. economy, and how simulative or restrictive do you expect economic policy (both monetary and fiscal) to be over (say) the next 12 months, and ho ...

Question in 20013 the bush administration directed the

Question: In 2001.3, the Bush Administration directed the Treasury to send checks of $300 to $600 to most taxpayers as an ‘‘advance'' payment on the 2002 tax reduction, in order to pull the economy out of recession. The ...

Question you are on the city council and are considering a

Question: You are on the city council and are considering a law to control rents below the free-market rent. What would be the effect of this rent control law in the short-run? In the long run? Be sure to explain why you ...

Discussion customs brokerswhy should individuals and firms

Discussion: Customs Brokers Why should individuals and firms use customs brokers when importing and exporting? What are the benefits? Your post must be at least 300 words, formatted and cited in proper APA style with sup ...

Question minimum wages and rent controls are implemented in

Question: Minimum wages and rent controls are implemented in an attempt to help those of modest means. Explain the costs and benefits of such price controls. Suggest alternatives that you believe would be more appropriat ...

Question consider two countries south korea and taiwan

Question: Consider two countries: South Korea and Taiwan. Taiwan can produce one million mobile phones per day at the cost of $10 per phone and South Korea can produce 50 million mobile phones at $5 per phone. Assume the ...

Question discuss the following - what features of medicare

Question: Discuss the following - What feature(s) of Medicare would cause an economist to say that "Medicare stinks as insurance"? Medicare supplement insurance is available from the commercial market and most commonly c ...

Question based on your readings how could you have learned

Question: Based on your readings, how could you have learned material better, how could you apply this information? Give an example of how you did or could have applied this information. 250 word initial response. The re ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert