Suppose the Last Unit of a Factor of Production Employed

question 31

Multiple Choice

Suppose the last unit of a factor of production employed has a marginal product of 12.The factor's price is $8,and the product's competitive market price is $6.This factor's marginal revenue product is

• A)$6.
• B)$36.
• C)$48.
• D)$72.
• E)$96.

Understand the concept and purpose of analytical comparisons in research.

Differentiate between planned, unplanned, a priori, and post hoc comparisons.

Interpret the results of an F-ratio in hypothesis testing.

Apply the correct decision rule for rejecting or not rejecting the null hypothesis based on the F-ratio and significance level.

---

Definitions:

Unpaid Child Care

The provision of care to children without receiving financial compensation, often performed by family members.

Emotional Work

The effort put into managing and regulating one’s own emotions or those of others in various contexts, often to fulfill societal or occupational roles.

Breadwinner

The primary income earner in a household, responsible for supporting the financial needs of the family.

Peer Group

People who are similar in age, social status, and interests.