Examlex

Solved

Suppose a Certain Firm Is Able to Produce 165 Units

question 10

Multiple Choice

Suppose a certain firm is able to produce 165 units of output per day when 15 workers are hired. The firm is able to produce 176 units of output per day when 16 workers are hired (holding other inputs fixed) . Then the marginal product of the 16th worker is


Definitions:

Effective

Producing a decided, decisive, or desired effect.

Product

An item or service created through a process and offered in the market to satisfy a need or want.

Institutional

Pertains to the structured and established practices, organizations, and relationships, often within a particular sociopolitical context.

Advertisements

Promotional messages designed to inform or influence people to buy or support a product, service, or cause.

Related Questions