The Marginal Factor Cost of the Third Laborer Is _____ $$\begin{array} { l l l l l } \text { Quantity of Labor Supplied: } & 1 & 2 & 3 & 4 \\\text { Reservation Wage Rate } & 5 & 10 & 15 & 20\end{array}$$

question 46

Multiple Choice

The marginal factor cost of the third laborer is _____ if the labor supply curve faced by a firm has the following wage-quantity coordinates: $$\begin{array} { l l l l l } \text { Quantity of Labor Supplied: } & 1 & 2 & 3 & 4 \\\text { Reservation Wage Rate } & 5 & 10 & 15 & 20\end{array}$$

• A)15
• B)25
• C)30
• D)Cannot be determined until the nature of the product market is known

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