In the above table, if this is a perfectly competitive firm and the market price of the product is $8, what is the marginal revenue product of worker 3?
A) $96
B) $88
C) $80
D) $240
A
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Roughly 160 million people in the United States hold jobs.
Answer the following statement true (T) or false (F)
If the realized real interest rate in an economy is 6%, the realized inflation rate is 8%, and the expected inflation rate is 8%, then the nominal interest rate in the economy is:
A) 2%. B) 8%. C) 20%. D) 14%.
An increase in the unemployment rate may be represented as a movement from a point on the production possibilities frontier to a point inside the frontier
Indicate whether the statement is true or false
Assume the tennis ball industry, a perfectly competitive, increasing?cost industry, is in long-run equilibrium with a market price of $5. If the demand for tennis balls decreases, long-run equilibrium will be reestablished at a price
A. equal to $5. B. less than $5. C. greater than $5. D. either greater than or less than $5, depending on the number of firms that enter the industry.