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

question 476

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. If Harold and Maude pay their workers $80 per day and charge $20 per dance lesson, what is the value of the marginal product of the third worker?

• A)$400
• B)$800
• C)$1,000
• D)$1,600

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Definitions:

Amygdala

A region of the brain involved in experiencing emotions, such as fear and pleasure.

Depression

A mental health disorder characterized by persistent feelings of sadness, loss, or anger that interfere with a person’s everyday activities.

Gray Matter

A major component of the central nervous system, consisting of neuronal cell bodies, neuropil (dendrites and myelinated as well as unmyelinated axons), glial cells (astroglia and oligodendrocytes), and capillaries.

Mood Disorders

A category of mental health disorders that primarily affect a person's emotional state, including conditions such as depression and bipolar disorder.