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

question 145

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

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Definitions:

Purge Program

Typically refers to a systematic effort to eliminate or remove unwanted or unnecessary information, files, or items from a system or space.

Operational Program

A plan detailing the day-to-day activities and procedures a business or organization follows to achieve short-term objectives and run its operations effectively.

Disaster Recovery Planning

Is the strategic process of creating a structured approach with policies and procedures for responding to potential disasters or disruptions to a company’s operations.