Suppose the Last Unit of a Factor of Production Employed

question 31

Multiple Choice

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

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Definitions:

Fascists

Members or supporters of a political ideology that exalts nation and often race above the individual, characterized by dictatorial power, centralized autocracy, and forcible suppression of opposition.

National Identity

The sense of a being part of a collective based on shared characteristics, culture, language, and history.

Guernica

A renowned painting by Pablo Picasso, depicting the bombing of the Basque town of Guernica during the Spanish Civil War, symbolizing the tragedies of war and the suffering it inflicts upon individuals, particularly innocent civilians.

Pablo Picasso

A Spanish painter and sculptor, known for co-founding the Cubist movement and for the variety and innovation of his work across different periods.