Table 142 -Refer to Table 14

question 84

Multiple Choice

Table 14.2
$\begin{array}{|c|c|c|c|c|}\hline \begin{array}{c}\text { Quantity of } \\\text { labour }\end{array} & \begin{array}{c}\text { Output of iPods per } \\\text { Week }\end{array} & \begin{array}{c}\text { Marginal Product of } \\\text { labour }\end{array} & \begin{array}{c}\text { Product Price } \\\text { (dollars) }\end{array} & \begin{array}{c}\text { Wage } \\\text { (dollars) }\end{array} \\\hline 1 & 8 & 8 & \$ 300 & \$ 350 \\\hline 2 & 15 & 7 & 280 & 350 \\\hline 3 & 21 & 6 & 260 & 350 \\\hline 4 & 26 & 5 & 240 & 350 \\\hline 5 & 30 & 4 & 220 & 350 \\\hline 6 & 33 & 3 & 200 & 350 \\\hline 7 & 35 & 2 & 180 & 350 \\\hline\end{array}$
-Refer to Table 14.2.The marginal revenue product of labour from the third unit of labour is

• A)$5,460.
• B)$1,560.
• C)$1,260.
• D)$780.

---

Definitions:

Consumer

An individual or group that purchases goods or services for personal use.

Marginal Cost

The cost of producing one additional unit of a good or service, which is used in determining the optimal production level.

Streetlight

A light, typically mounted on a pole, providing illumination for a street or public area to enhance safety and visibility at night.

Willing

Generally refers to being prepared or inclined to do something, indicating a readiness or acceptance.