The following is a total-product schedule for a resource. Assume that the quantities of other resources the firm employs remain constant.Units of ResourceTotal Product124242460680792If the product the firm produces sells for a constant $3 per unit, the marginal revenue product of the seventh unit of the resource is
A. $12.
B. $13.
C. $39.
D. $36.
Answer: D
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Trade that is within a country or between countries is based on the principle of
A) comparative advantage. B) scarcity. C) competition. D) absolute advantage.
The measure of how easily a particular asset can be converted quickly to cash without much loss of value is called:
A. liquidity. B. risk. C. intermediation. D. default line.
In general, poor countries
A. receive development assistance in order to alleviate poverty. B. have secure property rights, which attract corporations expand their offices in their population centers. C. have slower productivity growth rates than wealthier countries, according to the convergence hypothesis. D. have highly skilled workforces.
The advent of the Internet in the second half of the 1990s has brought the stock market industry close to a state of ________________.
Fill in the blank(s) with the appropriate word(s).