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:

Lean Manufacturers

Companies that adopt lean manufacturing techniques to maximize customer value while minimizing waste, thus achieving higher efficiency in production.

Traditional Processes

Conventional methods and procedures that organizations follow to conduct business operations, often characterized by a linear, step-by-step approach.

Work in Process Inventory

Items that are in the middle of production but haven't been finished for market yet.

Cost of Goods Sold

The expense associated with manufacturing the goods that a business sells during a specific period.