Introduction to Factor Markets

Blammo Inc. produces greeting cards in a perfectly competitive market. The table below shows the total number of greeting cards produced using different amounts of labor. The market price for a greeting card is $4.

Units of labor	Total produced	Marginal Product
0	0	-
1	100	100
2	220	120
3	300	80
4	360	60
5	400	40
6	400	0

What is the marginal revenue product of labor (MRP_L) of the fifth worker?

AP®︎/College Microeconomics

Course: AP®︎/College Microeconomics > Unit 5

Problem