Assume Labor Is the Only Variable Input and That an Additional

question 20

Multiple Choice

Assume labor is the only variable input and that an additional input of labor increases total output from 72 to 80 units. If the product sells for $6 per unit in a purely competitive market, the MRP of this additional worker is

• A) $6.
• B) $8.
• C) $48.
• D) $80.

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Definitions:

Limbic System

An intricate network of neural pathways and regions in the brain, located close to the cortex boundary, that plays a crucial role in managing instinctual behavior and emotional responses. It governs fundamental emotions such as fear, joy, and anger, along with primary drives like appetite, sexual desire, dominance, and parental instincts.

Hypothalamus

A small region of the brain that plays a crucial role in many essential functions, including releasing hormones, regulating body temperature, and maintaining daily physiological cycles.

Forebrain

The anterior part of the brain, including the cerebral hemispheres, thalamus, and hypothalamus, responsible for complex behaviors and mental processes.

Cerebrum

The largest part of the brain, responsible for voluntary muscular activity, vision, speech, taste, hearing, thought, and memory.