Given the Table for a Competitive Firm That Is Maximizing

question 119

Multiple Choice

Given the table for a competitive firm that is maximizing profits, if the marginal revenue product of the last worker hired is $150 and three workers are employed per day, the price of a unit of output must be

• A)1,000.
• B)100.
• C)20.
• D)10.

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Definitions:

Deliberate Practice

A highly structured activity engaged in with the specific goal of improving performance, often requiring effortful and focused training sessions.

High Performers

Individuals who consistently exceed standard expectations and goals in their professional or personal activities.

Practice Of Entrepreneurship

The active engagement in creating, organizing, and running a new business venture, focusing on innovation and risk-taking.

Identify Your Desired Impact

The process of defining the specific outcomes or changes you wish to achieve with your actions or project.