Use the following to answer questions:
Scenario: The Decision to Hire Labor
Assume that both the product market and the labor market are perfectly competitive. The price of this firm's product is $5. The firm's total product with respect to labor is given in the table that follows. 
-(Scenario: The Decision to Hire Labor) Look at the scenario The Decision to Hire Labor. This firm experiences diminishing marginal product after it hires the _____ worker.
Definitions:
Incremental Revenue
The additional revenue generated from a specific action or decision, beyond what would have been generated without it.
Variable Cost
Costs that vary directly with the level of production or sales volume, such as materials and labor.
Fixed Cost
A fixed cost is an expense that does not change with the level of goods or services produced by a business, such as lease payments or insurance premiums.
Sunk Cost
A sunk cost is a past expense that has already been incurred and cannot be recovered. Businesses cannot alter these costs with future decisions.
Q17: _ is (are) a means-tested monetary benefit
Q20: Absolute advantage is the basis for gains
Q37: Human capital is the improvement in _
Q58: In the United States just after the
Q75: A high-income household is taxed a certain
Q157: (Figure: Slope) Look at the figure Slope.
Q160: Which of the following goods is most
Q187: Given the general agreement that pollution is
Q234: (Figure: Equilibrium in the Labor Market) In
Q272: It is impossible for economists to use