A Firm's Labor Input, Total Output of Labor, and Product

question 120

Multiple Choice

A firm's labor input, total output of labor, and product price schedules are given in the table. Labor is the only variable input. What is the marginal revenue product of the fifth worker?

• A)$5
• B)$25
• C)$-7
• D)$1

---

Definitions:

Life Expectancy

The average period that a person or organism is expected to live, based on statistical analysis.

Pre-Columbian Indian

Refers to the indigenous peoples and civilizations of the Americas existing before the arrival of Columbus in 1492.

Central Place of Worship

A primary or main location where members of a religious community come together to perform rituals, pray, and celebrate their faith.

Defensive Design

The planning and construction of buildings, urban spaces, and products to minimize vulnerability to threats such as crime and terrorism.