Figure 1 -Refer to Figure 1

question 32

Multiple Choice

Figure 1
$$\begin{array} { c c c c } \begin{array} { c } \text { Labour (number of } \\\text { workers) }\end{array} & \begin{array} { c } \text { Output } \\\text { per hour }\end{array} & \begin{array} { c } \text { Marginal Product } \\\text { of Labour (MPL) }\end{array} & \text { Value of MPL } \\\hline 0 & 0 & \\1 & 5 & \\2 & 9 & \\3 & 12 & \\4 & 14 & \\5 & 15 &\end{array}$$
-Refer to Figure 1. If the price of output is R40 per unit, what is the value of the marginal product of labour as the firm moves from using four workers to using five workers?

• A) R40
• B) R80
• C) R120
• D) R560
• E) R600

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Definitions:

Perpetual Existence

A legal concept indicating that a corporation can continue indefinitely, regardless of changes in ownership or management.

Charitable Donations

Financial or material contributions given to nonprofit organizations or causes for philanthropic purposes.

Implied Powers

Powers not explicitly stated in a constitution or legal document but deemed necessary to execute the powers that are expressly stated.

De Facto Corporation

Latin for “corporation in fact” a corporation that has not substantially met the requirements of the state incorporation statutes.