Refer to the above table. If the price of the product is $1.50, what is the marginal revenue product of the 11th worker?
A) $1.50
B) $13.64
C) $150
D) $900
C
You might also like to view...
Societies in which _____ produce more entrepreneurs
a. the ratio of immigrants to the local population is high b. culture supports individual achievements c. individuals are self-interested d. immigrants are allowed to hold government positions e. immigrants are more intelligent than the local population
The major incentive for cost minimization is the
a. power of shareholders in the company. b. fear of top management by workers. c. discipline imposed by the market system. d. impact on U.S. corporations of taxing by the government.
Which of the following would be an asset to a bank?
a. cash in the vault b. a loan to a university student c. a government security d. All of the above are correct.
What causes movement from point A to point B on the curve?
a. an increase in the price level from PL1 to PL2
b. a rightward shift in the short-run aggregate supply curve
c. an increase in real GDP from RGDP2 to RGDP1
d. a decrease in the price level from PL2 to PL1