Question

If one more cobbler is hired the output of a shoemaking unit will increase from 50 pairs of shoes to 55 pairs per day, but then the shoemaking unit will have to reduce the price of a pair of shoes from Rs 3200 to Rs 3000 per pair to sell the additional output, the marginal revenue product of the last cobbler is:
1) Rs 1000

2) Rs 5000

3) Rs 4000

4) Rs 200

Answer 1

.........Answer--- 5000