-Refer to the Above Table

question 6

Multiple Choice

-Refer to the above table. What does the marginal revenue product equal when 27 workers are hired a week?

• A) $1040
• B) $216
• C) $16.25
• D) $8

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Definitions:

Consumption

The process of purchasing goods and services to fulfill the needs and wants of individuals.

Average Propensity

The ratio of total consumption to total income, indicating how much income is spent rather than saved.

Save

Setting aside money or other resources for future use or in case of emergencies.

Consume

The action of using up goods or services, thus leading to a reduction in available quantity.