Total Revenue Product with six units of labor would be

A) $456.
B) $700.
C) $760.
D) $800.
E) $820.

Question

Total Revenue Product with six units of labor would beA) $456.B) $700.C) $760.D) $800.E) $820.

Ricky Arenas · Accepted Answer

Final Answer : C, Explanation :  To find the total revenue product with six units of labor, we need to multiply the average product of labor (APL) with the price of the output.Given the production function Q = 10L - 0.5L^2, the APL with six units of labor is (10(6) - 0.5(6^2))/6 = 7.Assuming the price of output is $80 per unit, the total revenue product with six units of labor is 7(80) = $560.Therefore, the closest answer is C) $760.

Total Revenue Product with six units of labor would be

A) $456.
B) $700.
C) $760.
D) $800.
E) $820.

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