The Table Shows a Total-Product Schedule for a Resource

question 172

Multiple Choice

The table shows a total-product schedule for a resource. Assume that the quantities of other resources the firm employs remain constant. If the firm can sell 24 units of output at a price of $1.00 and 42 units of output at a price of $0.80, the marginal revenue product of the second unit of the resource is

• A)$5.40.
• B)$7.80.
• C)$9.60.
• D)$12.20.

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Definitions:

Ascending Limb

Part of the loop of Henle in the kidney nephron that transports filtrate from the renal medulla back towards the cortex, important for the reabsorption of water and salts.

Loop of Henle

A section of the nephron in the kidney that is responsible for concentrating urine and conserving water.

Cotransported

Referring to the simultaneous transportation of two or more molecules across a cell membrane, usually by a specific carrier protein.

Hydrogen Ions

Positively charged ions (H+) that contribute to acidity or alkalinity of a solution.