Consider the Following Table for a Firm

question 109

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.The marginal product of the 7th unit of the factor is

• A)-8.
• B)0.
• C)8.
• D)162.
• E)170.

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Definitions:

Buyer's Needs

The requirements or demands of a consumer that influence their purchasing decisions, including functionality, price, convenience, and status.

Assumptive Close

A sales technique where the salesperson assumes the customer has decided to make a purchase and proceeds with steps to finalize the sale, often leading to a sense of inevitability about the transaction.

Long-Term Customers

Clients or buyers who have been purchasing products or services from a business for an extended period, showing loyalty.

Complimentary Close

A polite phrase used to end a letter or email, such as "Best regards" or "Warmly," before the sender's signature.