Consider Labour That Is Hired for $18 Per Hour

question 62

Multiple Choice

Consider labour that is hired for $18 per hour.If the last hour of labour hired produces 8 units of output which sells for $10 per unit,that labour-hour's marginal revenue product is

• A)$1.20.
• B)$4.44.
• C)$64.
• D)$80.
• E)$144.

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Definitions:

Social Comparison

The process of evaluating oneself in relation to others, often in terms of abilities, achievements, and social status.

Reprimanding

The act of expressing a strong disapproval or criticism of someone, especially formally.

Moral Development

The process through which children become capable of making moral judgments.

Piaget's Model

A theory of cognitive development proposed by Jean Piaget that outlines how children's intellectual abilities evolve through four stages from infancy to adolescence.