(Note: When the price doubles, this will also double the marginal revenue product.) Labor Input Total Output Marginal Product Marginal Revenue Product Price $10 Price = $20 (Workers per day) (Boxes of paper per day) (Boxes of paper per day) (Dollars) (Dollars) 0 0 1 25 2 45 3 60 VYYYY 4 70 75 77 Assume that the selling price of paper is $10 per box. In the following table, for each quantity of labor input, fw in the marginal product (MP) and marginal revenue product (MRP) for Zippy. The following table shows the relationship between the number of workers Zippy hires and total output, with all other inputs being held constant. The Zippy Paper Company has no control over either the price of paper or the wage it pays its workers. In the labor market model, demand labor, and supply labor.
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