Table 13-2 -Refer to Table 13-2. What Is the Marginal Product of Marginal

question 68

Multiple Choice

Table 13-2
-Refer to Table 13-2. What is the marginal product of the third worker?

• A)300 units
• B)200 units
• C)100 units
• D)50 units

---

Definitions:

Consumer Tastes

The preferences and inclinations of consumers regarding different products and services, which can shift over time affecting market demand.

Wages and Salaries

Payments made to employees for their labor or services, typically on an hourly, daily, or yearly basis.

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan amount.

Economic Profit

The difference between total revenues and total costs, including both explicit and implicit costs.