A Competitive Firm Sells Its Output for $25 Per Unit

question 74

Multiple Choice

A competitive firm sells its output for $25 per unit.The marginal product of the 10th worker is 10 units of output per day; the marginal product of the 11th worker is 8 units of output per day.The firm pays its workers a wage of $160 per day.For the 10th worker,the value of the marginal product of labor is

• A) $50.
• B) $250.
• C) $300.
• D) $1,500.

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Definitions:

Big Corporations

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A regular payment made by a government or a financial institution to individuals who have reached retirement age.

Nationwide

Extending across or pertaining to an entire nation or country.

Liberty League

A political organization founded in 1934 in the United States, advocating for limited government and free enterprise.