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c. A software developer produces software programs (one unit of output) which produce revenue of $13,000 per unit. The firm hires programmers for $3250.00 per month. If the last month of labour hired produces 0.25 units of output, the MRP for the last month hired is $ This last unit of the factor contributes $ to the firm's profits. This firm should hire months of labour in order to maximize its profits.

c. A software developer produces software programs (one unit of output) which produce revenue of $13,000 per unit. The firm hires programmers for $3250.00 per month. If the last month of labour hired produces 0.25 units of output, the MRP for the last month hired is $ This last unit of the factor contributes $ to the firm's profits. This firm should hire months of labour in order to maximize its profits.

Microeconomics
Microeconomics
13th Edition
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter13: Factor Markets: With Emphasis On The Labor Market
Section13.1: Factor Market
Problem 1ST
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c. A software developer produces software programs (one unit of output) which produce revenue of $13,000 per unit. The firm hires programmers for $3250.00 per month. If the last month of labour hired produces 0.25 units of output, the MRP for the last month hired is $. This last unit of the factor contributes $[ to the firm's months of labour in order to maximize its profits. profits. This firm should hire
Transcribed Image Text:c. A software developer produces software programs (one unit of output) which produce revenue of $13,000 per unit. The firm hires programmers for $3250.00 per month. If the last month of labour hired produces 0.25 units of output, the MRP for the last month hired is $. This last unit of the factor contributes $[ to the firm's months of labour in order to maximize its profits. profits. This firm should hire
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