I dont know how to compute MRP
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|
Workers (days) |
Total Output |
|
1 |
9 |
|
2 |
17 |
|
3 |
24 |
|
4 |
30 |
|
5 |
35 |
|
6 |
39 |
|
7 |
42 |
1. Explain, in your own words, the meaning of MRP.
2. How is MRP computed?
3. Using the data presented, in the short run, how many workers would you recommend Sullivan’s hire per day to maximize profits?
4. Explain how you arrived at this number.
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