Suppose a Certain Firm Is Able to Produce 165 Units

question 10

Multiple Choice

Suppose a certain firm is able to produce 165 units of output per day when 15 workers are hired. The firm is able to produce 176 units of output per day when 16 workers are hired (holding other inputs fixed) . Then the marginal product of the 16th worker is

• A) 10 units of output.
• B) 11 units of output.
• C) 16 units of output.
• D) 176 units of output.

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Definitions:

Years

A unit of time equivalent to 365 or 366 days, used to measure durations or periods on a calendar basis.

Payments

Transactions involving the transfer of money from one party to another, often in exchange for goods or services.

Interest Rate

The borrowing cost that a lender imposes on a borrower, designated as a percentage of the principal for the use of property or money.

Years

A unit of time equal to 365 days (366 in a leap year), commonly used as a basic measure for accounting periods, product warranties, and investment horizons.