Use the following to answer question
-If hiring the 7th worker increases total product by 5 units and the price of each unit is $2,
Definitions:
Positive Price
A situation in which the price of a good or service is above zero, indicating value and demand in a market.
Budget Line
A depicted representation of all conceivable combinations of two commodities buyable with a certain amount of money at steady prices.
Price Of Good X
The amount of money required to purchase a specific quantity of Good X, reflecting its market value at a given time.
Price Of Good Y
The amount of money required to purchase a unit of good Y in the market.
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