Questions Are Based on the Data in the Following

question 64

Multiple Choice

Questions are based on the data in the following table. Assume that the labor market is perfectly competitive.


$\begin{array}{cc}\begin{array}{cc}\underline{\text { Labor }} & \underline{\text { Output }} \\0 & 0 \\1 & 15 \\2 & 29 \\3 & 42 \\4 & 54 \\5 & 65\end{array}\begin{array}{r}\underline{\text { Price }} \\\$ 2.20 \\2.00 \\1.80 \\1.60 \\1.40 \\1.20\end{array}\end{array}$

-What are the values of marginal product and the marginal revenue product,respectively,for the fourth worker?

• A)$67.20; $9.60
• B)$12.60; $9.60
• C)$16.80; $8.40
• D)$67.20; $62.40

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