A Firm That Can Sell Its Output for $40 Per

question 117

Multiple Choice

A firm that can sell its output for $40 per unit. When it increases its labor force from 4 workers to 5 workers its output increases from 15 to 17 units. The value of marginal product of the 5th worker is

• A) $680.
• B) $340.
• C) $80.
• D) $40.

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Definitions:

Self-Defense

A legal defense theory that allows an individual to use reasonable force to protect themselves from harm.

Criminal Liability

The legal responsibility for actions that breach the laws which dictate prohibited conduct, potentially resulting in prosecution and punishment.

Criminal Liability

The legal responsibility that a person or organization has for committing a criminal offense, subjecting them to penal sanctions.

Corporation

A legal entity that is separate and distinct from its owners, who are shareholders, and operates for profit.