Exhibit 11-8 Exhibit 11-8 Shows Data on the Production

question 202

Multiple Choice

Exhibit 11-8 Exhibit 11-8 shows data on the production of chocolate candy.If the firm sells chocolate for $3 a pound regardless of the quantity sold, the marginal revenue product of the third worker is

• A)$0.60
• B)$6
• C)$0.30
• D)$3
• E)$90

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Definitions:

Learning Experiences

Activities or events that result in gaining new knowledge, skills, attitudes, or preferences.

Drive Reduction Theory

A theory in psychology that explains motivation as being rooted in the desire to reduce internal tensions caused by unmet biological needs.

Erikson's Psychosocial

Refers to Erik Erikson's theory which includes eight stages of human development, each characterized by a central psychosocial conflict that shapes an individual's personality.

Drive Reduction

A theory in psychology that motivation arises from the body's attempt to reduce the state of tension caused by unmet biological needs.