Table 18-2 The Following Table Shows the Production Function for a Particular

question 35

Multiple Choice

Table 18-2
The following table shows the production function for a particular business.The numbers represent the various labor and output combinations the firm may choose for its output on a daily basis.

-Refer to Table 18-2.Suppose this firm charges a price of $5 per unit of output and pays workers a wage equal to $160 per day.What is the value of the marginal product of labor for the fourth worker?

• A) $200
• B) $1,000
• C) $6,400
• D) $32,000

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Definitions:

Intellectualization

A defense mechanism where a person engages in excessive abstract thinking to avoid dealing with emotional issues.

Subtle Form

An indirect or not immediately obvious manner of manifestation or expression.

Identification

A psychological process in which an individual assimilates attributes, beliefs, or standards of another person or group, often serving as a role model.

Fight-or-flight Response

An automatic physiological reaction to perceived harmful events, attacks, or threats to survival, prompting either combat or retreat.