Lupita grows cantaloupes in central florida and is in a perfectly competitive market. the marginal physical product of labor is 10 units while the price per unit is $2. what is the marginal revenue product of labor of lupita's farm?
The formula for determining the marginal revenue product of labor is marginal physical product (expressed in units) times the price per unit. Therefore, the marginal revenue product of labor of Lupita's farm is $20.
