2010, Form B, Question 2 · 6 points
Marginal revenue product table for a competitive firm
Work from a table of marginal revenue product to find a worker's marginal product, define diminishing marginal returns and spot where they begin, find the most the firm would pay a given worker, and explain how a higher output price affects labor demand.
This exam had three free-response questions with 10 minutes of planning and 50 minutes of writing, and the directions suggested spending about half the time on Question 1 and splitting the rest evenly between Questions 2 and 3. The current exam has 3 free-response questions in 60 minutes. The skills these questions practice still count.
1 Read the question
The question is College Board's, from the 2010, Form B exam. It starts on page 3 of the PDF. College Board no longer posts this exam, so it opens from the copy of College Board's PDF that the Internet Archive saved on March 22, 2023.
2 Write your answer
Answer each part the way you would on the exam, in full sentences, with your work shown. Your writing saves as you type.
3 Score it
Score your answer against College Board's scoring guidelines, one point at a time. Give yourself a point only when your answer says what the guideline asks for.
Scoring guidelines (PDF, page 3)
Question, scoring guidelines: College Board, from the Internet Archive. The title, summary are ours.