The Table Shows a Total-Product Schedule for a Resource

question 299

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 product the firm produces sells for a constant $2 per unit, the marginal revenue product of the third unit of the resource is

• A)$6.
• B)$12.
• C)$18.
• D)$24.

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Definitions:

Consistency

Consistency refers to the quality of achieving a level of performance or behavior that does not vary greatly in quality over time.

Persuader

An individual or entity that uses communication and argumentation techniques to influence others' beliefs, attitudes, or actions.

Cognitive Dissonance

A psychological phenomenon where there is discomfort or mental conflict due to holding contradictory beliefs or attitudes, leading to an internal push for resolution.

Social Judgment Theory

A theory that explains how individuals perceive and evaluate a communication message against their existing attitudes, influencing persuasion and attitude change.