Question

The following table depicts the number of grapes that can be picked in an hour with varying amounts of labor. Assuming that the price of grapes is $3 per flat, calculate total revenue and marginal revenue product (MRP), graph the MRP curve, and answer one question about hiring Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Marginal Revenue Total Revenue Number of Pickers Output of Grapes (per hour) (in flats) ($ per hour) ($ per hour) 0N-

Answer 1

Number of pickers (per hour)	Output of grapes (in flats)	Total Revenue ($ per hour)	Marginal Revenue Product ($ per hour)	MPP
0	0	0
1	10	10	30	10
2	28	56	54	18
3	43	129	45	15
4	54	216	33	11
5	61	305	21	7
6	64	384	9	3
7	65	455	3	1
8	61	488	-12	-4
The marginal product or marginal physical product (MPP) of an input (factor of production) is the change in output resulting from employing one more unit of a particular input.
Marginal revenue product of labor is the marginal product of labor multiplied by the price of the good. Profit maximization occurs when marginal revenue product of the last worker is equal to wage rate, which is $ 9 per hour.
The answer is 6 workers since MRP= wage rate. la MRP curve , MRP (lollous per horn) 9 3 4 5 6 7 8 2 15 0 Number of pickens (per hour)