1.

If one more cobbler is hired the output of a shoe making unit will increase from 50 pairs of shoes to 55 pairs per day, but then the shoe making unit will have to reduce the price of a pair of shoes from Rs 3200 to Rs 3000 per pair to sell the additional output, the marginal revenue product of the last cobbler is

A. Rs 1000
B. Rs 5000
C. Rs 4000
D. Rs 200
Answer» C. Rs 4000


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