Exhibit 13-1 -Refer to Exhibit 13-1. If Output Price Is $12 and Is

question 48

Multiple Choice

Exhibit 13-1
-Refer to Exhibit 13-1. If output price is $12 and the weekly wage is $300, the marginal revenue product of the fourth worker is

• A)$12.
• B)$75.
• C)$192.
• D)$18.75.
• E)$300.

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Definitions:

Open Account Agreement

A payment term arrangement between sellers and buyers where goods are shipped and delivered before payment is due.

Least Safe

Describes items or situations that are considered to have the highest level of risk or danger compared to others.

Unfavorable Balance

A financial situation where expenses or payments are greater than earnings, income, or cash inflows, often relating to trade deficits.

Syndicate

A group of banks that work together to offer credit in order to reduce risk.