According to the above table, what is Michael's marginal utility of the 8th unit?
A. 372
B. 44
C. 42
D. 43
Answer: D
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If the marginal revenue product of the fifth worker hired by a firm is $15 and the price of the last unit of output produced is $5, then the marginal product of the fifth worker is
a. 15 units of output if the product market is perfectly competitive b. 3 units of output if the product market is perfectly competitive c. 45 units of output if the product market is perfectly competitive d. 5 units of output if the product producer is a price searcher e. 15 units of output if the product producer is a price searcher