The Following Table Shows the Total Output Produced by Different

question 105

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-factor cost for the third unit of the resource?

• A)$13.00
• B)$15.00
• C)$17.50
• D)$195.00
• E)$19.50

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