The Following Table Shows the Total Output Produced by Different

question 51

Multiple Choice

The following table shows the total output produced by different units of a resource.Assume that the resource and output markets are both perfectly competitive.The equilibrium price of the resource is $15.00,and the equilibrium price of the product is $0.50. Table 14.2
Marginal revenue product (MRP) of a resource is the product of the marginal product of the resource and the marginal revenue.
Refer to Table 14.2.What is the marginal-revenue product of the third unit of the resource?

• A)$6.50
• B)$13.00
• C)$17.50
• D)$70.00
• E)$20.00

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Definitions:

Profit

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Balance Sheet Hedge

A financial strategy used to reduce the risk of currency fluctuations affecting the value of assets and liabilities reported in a company's balance sheet.

Exchange Rate Fluctuations

Variations in the value of one currency relative to another, affecting international trade and investments.

Global Companies

Enterprises that operate in multiple countries around the world, often focusing on international sales, partnerships, and supply chains.