MCQOPTIONS
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| 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 | |