Figure 18-2
The figure below shows the production function for a particular firm. 
-Refer to Figure 18-2. Suppose the firm pays a wage equal to $160 per unit of labor and sells its output at $10 per unit. What is the value of the marginal product of labor for the third worker?
Definitions:
Arbitrage
The simultaneous buying and selling of securities, currency, or commodities in different markets or in derivative forms to take advantage of differing prices for the same asset.
Price Discrimination
A pricing strategy where different prices are charged to different consumers for the same product or service, often based on their willingness to pay.
Deadweight Loss
The loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved or is unattainable.
Price Discriminate
The practice of selling the same product or service at different prices to different customers, often based on their willingness to pay.
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