Consider the Following Production and Cost Schedule for a Firm

question 10

Multiple Choice

Consider the following production and cost schedule for a firm.The first column shows the number of units of a variable factor of production employed by the firm.
TABLE 13-1
-Refer to Table 13-1.The marginal revenue product of the 14th unit of the factor is

• A)-$60.
• B)$60.
• C)$140.
• D)$700.
• E)$840.

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Definitions:

Renewable Energy

Energy from sources that are naturally replenishing but flow-limited, such as sunlight, wind, water currents, geothermal heat, and bioenergy.

Stored

Kept or accumulated for future use, referring to anything that can be retained or conserved for a period of time.

Compete

To strive for a goal, such as a prize or higher status, against others by overcoming challenges and obstacles.