A Competitive Firm Sells Its Output for $50 Per Unit

question 408

Multiple Choice

A competitive firm sells its output for $50 per unit. Assume that labor is the only input that varies for the firm. The marginal product of the 10th worker is 10 units of output per day; the marginal product of the 11th worker is 8 units of output per day. The firm pays its workers a wage of $160 per day. For the 10th worker, the value of the marginal product of labor is

• A)$250.
• B)$400.
• C)$500.
• D)$1,280.

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Leadership that focuses on influencing and motivating members within an organization rather than external stakeholders.

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