If the Marginal Product of the Second Worker Hired by a Firm

question 37

Multiple Choice

If the marginal product of the second worker hired by a firm is 14 units and the price of the tenth unit of output is $7, then the marginal revenue product

• A)of the second worker is $98, regardless of the structure of the product market
• B)of the second worker is $98 if the firm is a price searcher in the product market
• C)of the second worker is $98 if the product market is perfectly competitive
• D)of the tenth worker is $98 if the product market is perfectly competitive
• E)of the tenth worker is $98 if the firm is a price searcher in the product market

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Definitions:

Registration Statement

A set of documents, including financial statements and a prospectus, filed with the Securities and Exchange Commission (SEC) by a company intending to go public through an issuance of shares.

Financial Statement

A formal record of the financial activities and position of a business, individual, or other entity, typically including a balance sheet and income statement.

Future Growth Potential

An assessment of an entity's or an investment's capacity to expand or increase in value over time.

Recidivism

The act of relapsing into a previous condition or mode of behavior, especially criminal behavior, after attempting to change.