The Ernie Egg Store hires workers to paint eggs. The store sells the eggs for $3. The marginal revenue product of this store's fifth worker is $21. The marginal product of the fifth worker is
A. 0.14 eggs.
B. 7 eggs.
C. 36 eggs.
D. indeterminate from this information.
Answer: B
You might also like to view...
When a government moves from a centrally planned economy to a market economy, this is an example of ________ policy.
A. monetary B. structural C. aggregation D. fiscal
If an economy's institutional production possibilities frontier (institutional PPF) shifts rightward, the economy's
A) natural unemployment rate rises. B) natural unemployment rate falls. C) Natural Real GDP declines. D) physical PPF shifts leftward. E) physical PPF shifts rightward.
Does a competitive firm's price equal the minimum of its average total cost in the short run, in the long run, or both? Explain.
What will be an ideal response?
Most nations all over the world have raised trade barriers over the past decade.
a. true b. false