Consider the Following Production and Cost Schedule for a Firm

question 8

Multiple Choice

Consider the following production and cost schedule for a firm.The first column shows the number of units of a variable factor of production employed by the firm. $$\begin{array} { | c | c | l | } \hline \begin{array} { c } \text { Total Number of } \\\text { Units of the Factor }\end{array} & \begin{array} { c } \text { Total Number of } \\\text { Units of Output }\end{array} & \begin{array} { l } \text { Price per Unit } \\\text { of Output }\end{array} \\\hline 10 & 20 & \$ 10 \\\hline 11 & 44 & \$ 10 \\\hline 12 & 64 & \$ 10 \\\hline 13 & 78 & \$ 10 \\\hline 14 & 84 & \$ 10 \\\hline 15 & 86 & \$ 10 \\\hline\end{array}$$ TABLE 13- 1
-Suppose that the last unit of a factor of production employed has a marginal product of 12.The factor's price is $8,and the product's competitive market price is $6.This factor's marginal revenue product is

• A)$96.
• B)$72.
• C)$6.
• D)$36.
• E)$48.

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