You Find That You Have a Backlog of Orders Due

question 11

Multiple Choice

You find that you have a backlog of orders due to an increase in demand for your product.You determine that if you hire one more person you will be able to increase your sales volume by $300 because of projected output by this extra person.Wages per day for this extra person will be $100.The marginal revenue product for this extra worker is

• A)$100
• B)$200
• C)$300
• D)$400

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Definitions:

Previously Learned

Information or skills that have been acquired in the past and can influence or facilitate future learning.

Debriefing

Providing an explanation and clarifications to participants following an experiment or study, especially about any deception involved.

Placebo Effect

The phenomenon where a patient's symptoms can be alleviated by an otherwise ineffective treatment, due to the patient's belief in that treatment's efficacy.

Research Study

A systematic investigation, including research development, testing, and evaluation, designed to develop or contribute to generalizable knowledge.