What are the two effects of a price change

Reference no: EM13209633

Assume the wage is $8. Complete the following table:
Workers Total Product Marginal Product of Labor Price Marginal Revenue Product (MRP)
1 17 2
2 31 2
3 43 2
4 53 2
5 60 2
6 65 2

What are the two effects of a price change?

Reference no: EM13209633

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