As a Result of Increasing Its Workforce from 9 Workers

question 177

Multiple Choice

As a result of increasing its workforce from 9 workers to 10 workers, a firm's total revenue per day increases from $60,000 to $60,250 and its total cost per day increases from $58,500 to $58,700. The marginal profit of the 10^th worker is

• A)-$50.
• B)$50.
• C)$200.
• D)$250.

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Definitions:

Material B

Material B refers to a specific classification of inventory or supplies used in the production process of goods, distinct by its type, properties, or its designated use within a manufacturing setting.

Dollar Amount

A numerical monetary value specified in units of currency, often used to quantify costs, revenues, or financial positions.

Production

The process of converting materials, labor, and capital into finished goods and services that can be sold to customers.

Budgeted Production

The estimated quantity of products that a company plans to produce in a specific period, often used for planning material, labor, and overhead requirements.