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

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Definitions:

Scales of Measurement

A classification that describes the nature of information within the values assigned to variables in statistical analysis.

Ordinal

Relating to a categorical ranking in which the order of the values is significant, but the difference between them is not uniformly spaced.

Census

A complete enumeration or count of a population at a set point in time, gathering various demographic, social, and economic information.