Table 18-3 -Refer to Table 18-3.This Table Describes the Number of Baseballs

question 105

Multiple Choice

Table 18-3

-Refer to Table 18-3.This table describes the number of baseballs a manufacturer can produce per day with different quantities of labor.Each baseball sells for $2.50 in a competitive market.What is the marginal revenue product of the fourth worker?

• A) $200
• B) $300
• C) $400
• D) $500

---

Definitions:

Family Businesses

Businesses owned and operated by multiple family members, often passed down through generations.

Formal Business Plan

A comprehensive document that outlines the strategic direction, goals, and operational plans of a business.

Action

The act or process of doing something, typically to achieve an objective or accomplish a goal, often requiring decision-making and initiative.

Practice

The repeated exercise or application of an activity or skill to achieve proficiency.