The Following Table Shows Output Per Hour Produced by the Different

question 85

Multiple Choice

The following table shows output per hour produced by the different units of labor. Table 14.1
The marginal revenue product of a resource is equal to the product of the marginal product of an input and marginal revenue.
Refer to Table 14.1.If both the wage rate and the price of the good falls to $2,how many workers would the firm hire?

• A)1
• B)2
• C)3
• D)4

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Definitions:

Negotiates

Engages in discussions aimed at reaching an agreement in situations involving varying interests.

Incomplete Note

A financial or promissory note missing essential details, making it unenforceable or incomplete until the information is furnished.

Unauthorized Manner

Refers to actions or operations carried out without official permission or approval.

HDC

Holder in Due Course, a term in commercial law referring to a person who has acquired a negotiable instrument in good faith and for consideration, and thus has certain rights above the original parties.