A Firm Can Sell Its Output for $40 Per Unit

question 70

Multiple Choice

A firm can sell its output for $40 per unit.When the firm increases its labour force from 4 workers to 5 workers,its output increases from 15 to 17 units.The value of marginal product of the 5th worker is

• A)$80.
• B)$40.
• C)$600.
• D)$680.
• E)$136.

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Definitions:

Recuperate

To recover or regain health, strength, or energy after illness, injury, or exertion.

Exponential Growth

A pattern of data that escalates at an increasingly rapid rate, often used to describe population growth, infection rates, or compounding interest.

Domestication

The process by which humans breed and cultivate plants and animals for personal use, altering their characteristics over generations to suit human needs.

Agricultural Society

An agricultural society is a community or nation whose economy is heavily based on agriculture and farming practices.