The Marginal Products of the First, Second, and Third Workers

question 262

Multiple Choice

The marginal products of the first, second, and third workers are 50, 34, and 22, respectively. If four workers can produce 116 units of output, then the marginal product of the fourth worker is

• A) 10.
• B) 12.
• C) 22.
• D) 116.

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Definitions:

Horizontal Integration

A strategy where a company acquires or merges with other companies at the same level of the supply chain in the same or different industries, to increase market share or product offerings.

Purchasing Savings

Cost reductions achieved by negotiating lower prices or finding more efficient procurement methods.

Vertical Integration

A strategy where a company expands its operations into different stages of production, often including the supply chain, to control costs and improve efficiency.