The Following Figure Gives the Total Product of Labor at Different

question 7

Multiple Choice

The following figure gives the total product of labor at different levels of labor use per day.The market price of the product is $10 per unit and the market wage rate is $8 per day.


$$\begin{array} { c | c } \begin{array} { l } \text { Labor } \\\text { Employed }\end{array} & \begin{array} { l } \text { Total Product } \\\text { (in units) }\end{array} \\\hline 4 & 17 \\5 & 20 \\6 & 25 \\7 & 28 \\8 & 30\end{array}$$
-Refer to Table .The marginal product of labor is the highest when the firm hires _____ workers.

• A)5
• B)6
• C)7
• D)8

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Definitions:

Vascular Tissue

Specialized tissue in plants that conducts water and nutrients throughout the plant body; includes xylem and phloem.

Xylem

A type of tissue in plants that transports water and some nutrients from the roots to the leaves.

Gymnosperms

Seed-producing plants that bear their seeds directly on the surfaces of cones, differing from flowering plants in their mode of reproduction.

Single Species

Refers to a specific, individual species as opposed to a group or community of multiple species.