-Sun's Petrol Station Is a Firm Operating in a Perfectly

question 61

Multiple Choice

-Sun's Petrol Station is a firm operating in a perfectly competitive industry. Sun's Petrol Station sells each litre of petrol for $3. What is the value of marginal product from hiring the fourth worker?

• A) $840
• B) $2,400
• C) $60
• D) $120

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Definitions:

Successive Approximations

A method where complex behaviors are broken down into simpler, achievable tasks that gradually increase in difficulty or complexity.

Extinction

The discouraging of behaviour by making the removal of a desirable consequence contingent on its occurrence.

Disruptive Behaviours

Actions that interrupt the normal flow or operations within a group, often negatively affecting the environment or outcomes.

Co-workers

Individuals who work together typically in the same department or project within an organization.