Figure 1 Labour (Number of Workers) -Refer to Figure 1

question 36

Multiple Choice

Figure 1 Labour (number of workers)

$\begin{array}{cccc} \text { Labour (number of } & \text { Output } & \text { Marginal Product } & \text { Value of MPL } \\ \text { workers) } & \text {per hour } & \text { of Labour (MPL) } \\\hline0 & 0 \\ 1 & 5 \\ 2 & 9 \\ 3 & 12 \\ 4 & 14 \\ 5 & 15\end{array}$
-Refer to Figure 1. If the price of output is €4 per unit, what is the value of the marginal product of labour as the firm moves from using four workers to using five workers?

• A) €4
• B) €8
• C) €12
• D) €56
• E) €60

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Definitions:

Present Value

The current value of a future amount of money or stream of cash flows, given a specified rate of return.

Investment

The allocation of resources, such as capital or time, in the expectation of generating an income or profit.

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Various vehicles through which individuals and entities can invest their money, potentially including stocks, bonds, real estate, mutual funds, and more.

Present Value

The current equivalent of a future sum of money or cash flow series, using a set rate of return for calculation.