Stephanie produces earrings. She sells each pair of earrings for $6. The table below shows how many pairs of earrings ca

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Stephanie Produces Earrings She Sells Each Pair Of Earrings For 6 The Table Below Shows How Many Pairs Of Earrings Ca 1 (133.46 KiB) Viewed 16 times

Stephanie produces earrings. She sells each pair of earrings for $6. The table below shows how many pairs of earrings can be produced, depending on the number of workers Stephanie hires. Fill in the “Total Revenue” and “Marginal Revenue Product" columns using the information given. Assume this is a perfectly competitive market. Instructions: Enter your answers as a whole number. Stephanie's Earring Shop and Revenues Labor Total Product (pairs of (workers) 0 1 3 4 7 earrings) 0 16 31 44 56 66 73 77 Marginal Product (pairs of earrings) 16 15 13 12 10 7 4 Price (dollars) $6 6 6 6 6 6 6 6 Total Revenue (dollars) $0 96 90 78 72 60 42 24 Marginal Revenue Product (dollars) $ 6 6 6