-In the Above Table, the Marginal Product of the 7th

question 55

Multiple Choice

-In the above table, the marginal product of the 7th worker is 6. What is the total product when 7 workers are employed?

• A) 68
• B) 70
• C) 72
• D) 76

---

Definitions:

Liabilities

Liabilities or amounts due by a corporation to third parties or people outside the organization.

Accrued Expense

An accounting term referring to expenses that have been incurred but not yet paid, representing liabilities on a company's balance sheet.

Income Taxes

Taxes levied by the government on income generated by businesses and individuals within their jurisdiction.

Accounting Period

A specific period of time used for financial reporting, typically a year or quarter, during which a company's financial performance is calculated.