Wei Sells Sandwiches for $10 Each in a Competitive Product

question 90

Multiple Choice

Wei sells sandwiches for $10 each in a competitive product market. The marginal physical product for the third worker is eight. The marginal revenue product of the third worker is:

• A) $40.
• B) $60.
• C) $80.
• D) $100.

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Definitions:

Equilibrium Price

is the price at which the quantity demanded of a good equals the quantity supplied, leading to market balance.

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