The Following Table Shows the Quantity of Shaved Ice Desserts

question 318

Multiple Choice

The following table shows the quantity of shaved ice desserts that can be made in one hour based on the number of workers hired. If the price of a shaved ice dessert is $6, what is the marginal revenue product of the third worker?
$\begin{array}{|l|l|l|}\hline \text { Labor } & \text { Quantity } & M P P_{\mathrm{L}} \\\hline 1 & 6 & 6 \\\hline 2 & 16 & 10 \\\hline 3 & 25 & 9 \\\hline 4 & 32 & 7 \\\hline 5 & 37 & 5 \\\hline\end{array}$

• A) $18
• B) $25
• C) $54
• D) $150

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Definitions:

Domestic Investment

The total capital expenditure on physical assets (like buildings, machinery, and equipment) within a country's borders to produce goods and services.

Net Capital Outflow

The net flow of funds invested abroad by a country, over a specific time period, typically calculated as the difference between domestic savings and investment.

GDP

Gross Domestic Product (GDP) is the total monetary value of all goods and services produced within a country's borders in a specific time period, serving as a broad indicator of economic health.

Consumption Expenditures

The total amount spent by consumers on goods and services.