If the Value of the Marginal Product of a Worker

question 50

Multiple Choice

If the value of the marginal product of a worker is $40 and the marginal product of the worker is 8 units,the market price of the good he produces is ________.

• A) $2
• B) $5
• C) $8
• D) $10

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Definitions:

Industrial Union

A labor union organizing method where all workers in the same industry, regardless of job function, are organized into a single union.

Apprenticeships

Structured training programs that combine on-the-job training with classroom instruction for a particular occupation.

Industrial Union

A labor union that represents all types of workers in a particular industry, regardless of their specific roles or skills.