A ceramic pottery unit hires 8 craftsmen by paying each of them Rs 900 per day. The 9th craftsman demands Rs 950 per day. If this craftsman is hired t - Economics@NUM: 34 MCQ SSC CGL 2026 | ExamTest.live

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A ceramic pottery unit hires 8 craftsmen by paying each of them Rs 900 per day. The 9th craftsman demands Rs 950 per day. If this craftsman is hired then all other craftsmen must be paid Rs 950. The marginal resource (labour) cost of the 9th craftsman is ________.

Solution & Step-by-step Explanation

Initial Total Cost for 8 craftsmen: TC_{8} = 8 \times 900 = Rs 7200 New Total Cost for 9 craftsmen (since all are now paid Rs 950): TC_{9} = 9 \times 950 = Rs 8550 The Marginal Resource (Labour) Cost (MRC) of hiring the 9^{th} craftsman is: MRC = TC_{9} - TC_{8} MRC = 8550 - 7200 = Rs 1350

Try it yourself before checking the explanation above.

A ceramic pottery unit hires 8 craftsmen by paying each of them Rs 900 per day. The 9th craftsman demands Rs 950 per day. If this craftsman is hired then all other craftsmen must be paid Rs 950. The marginal resource (labour) cost of the 9th craftsman is ________.

Rs 1530

Rs 1050

Rs 50

Rs 1350

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