Refer to the data provided in Table 10.1 below to answer the following question(s).
Table 10.1 
Refer to Table 10.1. The marginal revenue product of the fourth worker is
A. $5.
B. $20.
C. $100.
D. $475.
Answer: C
You might also like to view...
If the AD curve shifts rightward while the AS curve and potential GDP don't change, then
A) there will be no change in real GDP, so the economy is at the trough of the cycle. B) the expansion phase of the business cycle occurs. C) there will be no change in real GDP, so the economy is at the peak of the cycle. D) the economy will move from a peak into recession. E) real GDP does not change.
Using the compensating differential approach, the value of a life is calculated as
A) the compensating differential multiplied by the increased chance of death. B) the sum of the compensating differential and the increased chance of death. C) the compensating differential divided by the increased chance of death. D) the difference between the compensating differential and the increased chance of death.
In the above figure, the marginal product of labor is zero at point
A) a. B) c. C) e. D) f.
If inventory levels are decreasing, then we should expect business firms to
A. decrease prices. B. decrease output. C. lay off workers. D. increase output.