The Marginal Product of Labor Curve for Coast to Coast

question 30

Multiple Choice

The marginal product of labor curve for Coast to Coast, a standup paddle board outfitter, is MRP_L = 500 -100L, where L is the number of guides hired per week and MRP_L is dollars earned per guide per week. The prevailing market wage is $200 per week. The choke wage for Coast to Coast is $____.

• A) 200
• B) 300
• C) 400
• D) 500

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Definitions:

Olive

A small, oval fruit with a hard pit and bitter flesh, typically grown in the Mediterranean region, also referring to the tree that produces these fruits, Olea europaea.

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A fruit, typically grown in clusters, used for eating fresh or in making wine.

Apple

A technology company known for its innovation in consumer electronics, software, and services, as well as a fruit that is edible, round, and typically red or green.

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