-The Preceding Table Gives Monthly Production Information for Peter's Peanuts

question 137

Multiple Choice

-The preceding table gives monthly production information for Peter's Peanuts, a firm in a perfectly competitive industry. The market price of peanuts is $2.00 per pound. What is the marginal product from employing the fourth worker?

• A) 7 pounds of peanuts
• B) 100 pounds of peanuts
• C) 400 pounds of peanuts
• D) 2,800 pounds of peanuts

---

Definitions:

Computer-generated Data

Information produced by computational processes, often used for analysis, simulation, or predictive modeling.

Infallible

Incapable of making mistakes or being wrong; often used to describe individuals or systems that are considered perfect or error-free.

Open Workspace Arrangements

Office design that eliminates traditional barriers like cubicles and private offices in favor of a shared space to encourage collaboration, communication, and flexibility.

Informal Communication

The casual and unstructured exchange of information between individuals.