The Following Table Shows the Total Output Produced in a Factory

question 17

Multiple Choice

The following table shows the total output produced in a factory at various levels of employment of labor.The firm sells each unit of output at $2 and each worker is paid a wage of $32.
Table 5-1

-Refer to Table 5-1.What is the marginal revenue product of the 4th worker?

• A)$96
• B)$242
• C)$288
• D)$162
• E)$256

Analyze methods to enhance employee satisfaction and understanding regarding health insurance options.

Appreciate the importance and impact of engaging communication strategies like benefits fairs on employee satisfaction and organizational commitment.

Understand the legal and ethical considerations in offering early retirement incentives.

Analyze the cost implications of different types of employee benefit plans for employers.

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Definitions:

Writing Requirement

The legal necessity for certain contracts to be in writing in order to be enforceable, such as real estate transactions.

Reliance

Dependence or trust in something or someone for support or to fulfill needs.

Subdivision

The act of dividing land into plots or pieces that may be developed, sold, or otherwise used separately.

Statute of Frauds

A legal principle requiring certain types of contracts, such as those involving land, to be in writing and signed by all parties to be enforceable.