If the Marginal Revenue Product of the Fifth Worker Hired

question 83

Multiple Choice

If the marginal revenue product of the fifth worker hired by a firm is $15 and the price of a unit of output is $5 regardless of how much is sold, then the marginal product of the fifth worker is

• A) 15 units of output.
• B) 5 units of output.
• C) 3 units of output.
• D) 45 units of output.
• E) 75 units of output.

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Definitions:

Planning

The process of making plans for something, often involving setting goals, deciding on actions to achieve those goals, and mobilizing resources to execute the actions.

Audiences

The collective group of people who are the intended recipients or viewers of a message, performance, or work.

Least Likely

Referring to the option or outcome with the lowest probability of occurrence.

Pay Attention

The act of focusing one’s mind and senses on a particular object or activity, giving it precedence over other stimuli.