Refer to the Following Table That Shows the Short-Run Production

question 34

Multiple Choice

refer to the following table that shows the short-run production relationship and the product demand schedule for a firm.


$\begin{array}{ccc}\text { Labor } & \text { Output } & \text { Output Price } \\\hline1 & 10 & \$ 20.00 \\2 & 15 & 19.00 \\3 & 19 & 18.00 \\4 & 22 & 17.00 \\5 & 24 & 16.00 \\6 & 25 & 15.00\end{array}$
-What is the marginal revenue product of the third worker?

• A)$18
• B)$57
• C)$72
• D)$342

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Definitions:

Singular Propositions

Statements that make a claim about a specific single entity or unique instance.

Syllogisms

Logical arguments that apply deductive reasoning to arrive at a conclusion based on two or more premises that are asserted to be true.

Minor Term

In syllogistic logic, the term that appears in the conclusion and is the subject of the minor premise.

Major Term

In logic, specifically in a syllogism, the major term is the predicate of the conclusion.