Assume a firm is a monopsonist that can hire its first worker for $6 but must increase the wage rate by $3 to attract each successive worker (so that the second worker must be paid $9, the third $12, and so on). The marginal revenue product of labor is given in the table below.
I'm sorry, but you haven't provided the table that contains the marginal revenue product of labor. Please provide the table so that I can assist you further.
To better understand the situation, we need the table that provides the marginal revenue product of labor. Could you please provide the table?
