If the marginal product of a worker for a hearing aid manufacturer is 6 hearing aids, and the price of a hearing aid is $300, the firm?s marginal revenue product is
A. $50.
B. $300.
C. $1,800.
D. $18,000.
Answer: C
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Refer to the table below. If Sweet Grams is a perfectly competitive firm and the market price $1.75 per unit, what is the profit-maximizing quantity for Sweet Grams to produce at Plant 1?
Sweet Grams makes graham cracker snack packages. Sweet Grams is a multi-plant firm with two production facilities. The above table summarizes the total marginal cost of production at various output levels in the separate plants. Assume Sweet Grams is a perfectly competitive firm.
A) 32,500
B) 36,000
C) 32,000
D) 30,100
If consumers' surplus is $30 and the price paid for the good is $50, then the maximum price a buyer is willing and able to pay for the good is
A) $80. B) $30. C) $50. D) $20. E) There is not enough information to answer the question.
Explain how a well-functioning stock market contributes to the efficiency of the economy.
What will be an ideal response?
One way fiscal policy affects aggregate demand is:
A. directly through tariffs. B. directly through government spending. C. directly through taxation. D. All of these are true.