Table 17.1Refer to Table 17.1. If the price of output is $2 per unit, the marginal revenue product of the fourth unit of labor is:

A. $50.
B. $52.50.
C. $100.
D. $105.


Answer: C

Economics

You might also like to view...

Which of the following is a likely result of the deregulation of the airline industry that might benefit consumers?

a. a wage increase for union pilots b. a possible decline in airline safety c. one firm's emerging as an unregulated monopoly d. loss of service to unprofitable routes e. a decrease in air fares

Economics

Which of the following is an example of capital?

a. Education b. Natural resources c. Machinery d. Training e. Money

Economics

The Standard amp; Poor's 500 Index differs from the DJIA in at least two major respects. What are the two major differences?

What will be an ideal response?

Economics

Points outside a production possibility frontier represent inefficiency.

Answer the following statement true (T) or false (F)

Economics