Table 18-8 Harold and Maude Own a Dance Studio Where They and They

question 175

Multiple Choice

Table 18-8
Harold and Maude own a dance studio where they and their employees teach ballroom dancing. Their company is a competitive, profit-maximizing firm. Harold and Maude's production function is detailed in the table below.
-Refer to Table 18-8. What is the marginal product of the third worker?

• A)220 students
• B)73.33 students
• C)50 students
• D)30 students

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The cost of purchasing a share of ownership in a company, which can fluctuate based on market conditions.

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Materials or substances occurring in nature which can be exploited for economic gain.

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