A Local Computer Manufacturer Hires an Additional Worker and Pays

question 34

Multiple Choice

A local computer manufacturer hires an additional worker and pays $10.00 per hour for an eight- hour day.The worker is capable of assembling 3 computers an hour.The firm sells each computer for $1,500.What is the marginal physical product of this worker?

• A)$10.00 per hour
• B)3 computers per hour
• C)$1,500 per unit produced
• D)$80.00 per day

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Definitions:

Administrative Burdens

The costs and obstacles associated with compliance to governmental policies and regulations.

Economy's Income

The total value of all earnings obtained by individuals, businesses, and government entities within an economy over a specific period, often measured as Gross Domestic Product (GDP).

Government Growth

Government growth refers to the increase in size and scope of government activities, including spending, regulation, and influence over the economy.

Deadweight Loss

An economic inefficiency that occurs when there is a difference between the supply and demand equilibrium caused by market distortions, resulting in loss of economic efficiency.