Suppose That the Last Unit of a Factor of Production

question 51

Multiple Choice

Suppose that the last unit of a factor of production employed has a marginal physical 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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Definitions:

Parenteral Nutrition

A method of feeding a person intravenously, bypassing the usual process of eating and digestion.

Hypoglycemia

A condition characterized by abnormally low blood sugar levels, which can cause symptoms such as dizziness, sweating, and confusion.

Pharmacy

A field of health science that links medical science with chemistry and is charged with the discovery, production, disposal, safe and effective use, and control of medications and drugs.

Complication

An unforeseen problem or condition that arises during the course of a disease or after a procedure, making the situation worse.