(Table: Value of the Marginal Product of Labor and Demand)

question 19

Multiple Choice

(Table: Value of the Marginal Product of Labor and Demand) In the figure Value of the Marginal Product of Labor and Demand, the total product of labor is shown for the hourly production of power cords.If the price of a power cord is $2, the value of the marginal product for the third worker is:

• A)$2.
• B)$10.
• C)$60.
• D)$80.

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Definitions:

Nonparticipating

A term often used in insurance to describe a policy that does not grant the holder the rights to share in the insurer's surplus or dividends.

Paid-In Capital

the amount of money that a company receives from issuing stock to investors, reflecting the capital invested by shareholders.

Fair Market Value

The price at which property would sell on the open market between a willing buyer and a willing seller.

Noncumulative Nonparticipating

Refers to a type of preferred stock that does not allow for the accumulation of unpaid dividends if they are not declared by the board, nor does it participate in the extra profits of the company.