If the Marginal Product of a Worker for a Hearing

question 50

Multiple Choice

If the marginal product of a worker for a hearing aid manufacturer is 6 hearing aids, and the price of a hearing aid is $300, the firmʹs marginal revenue product is

• A) $50.
• B) $300.
• C) $1,800.
• D) $18,000.

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Definitions:

Reasonable Notification

A requirement to give timely and clear information or warnings in various legal and regulatory contexts, ensuring that parties involved are properly informed.

Unique Goods

Items that are distinct in their characteristics, often irreplaceable, and cannot be substituted easily due to their rarity or specific traits.

Breach of Warranty

Occurs when a seller fails to uphold a claim or promise about a product or service.

Discovered the Defect

Discovering the defect involves identifying a flaw or fault in a product or property, usually after a transaction has taken place, impacting the value or safety of the item.