Given the following table for a competitive firm which is maximizing profits, if the marginal revenue product of the last worker hired is $150 and three workers are employed per day, the price of a unit of output must be:
A. $1,000
B. $100
C. $20
D. $10
D. $10
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Which of the following markets has a single firm?
A) Perfect competition B) Monopolistic competition C) Monopoly D) Oligopoly
An increase in the rate of inflation in the U.S. will increase the supply of dollars and decrease other countries' demand for dollars
Indicate whether the statement is true or false
In economics, the difference between a firm's revenues and its costs is referred to as
A) physical capital. B) profit. C) capital gains. D) factor payments.
Vault cash is equal to $2 million, deposits by depository institutions at the central bank are $1 million, the monetary base is $15 million, and bank deposits are $30 million. Bank reserves are equal to
A. $5 million. B. $2 million. C. $3 million. D. $10 million.