Consider the Following Table for a Firm

question 21

Multiple Choice

Consider the following table for a firm.The first column shows the number of units of a variable factor of production employed by the firm.
TABLE 13-2
-Refer to Table 13-2.Suppose this firm is a perfect competitor and faces a given price of the product equal to $15 per unit.The marginal revenue product of the 5th unit of the factor is

• A)$30.
• B)$100.
• C)$75.
• D)$300.
• E)$2220.

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Definitions:

Logistics Management

The process of planning, implementing, and controlling the efficient, effective flow and storage of goods, services, and related information from point of origin to point of consumption.

Point of Origin

The location or source from where a product, service, or shipment begins its movement or is created.

Point of Consumption

The place or moment where a product or service is actually used or consumed by the end user.

Clayton Act

A U.S. federal law aimed at promoting competition and preventing anti-competitive practices in their inception.