Answer the Question on the Basis of the Following Information

question 93

Multiple Choice

Answer the question on the basis of the following information.A farmer who has fixed amounts of land and capital finds that total product is 24 for the first worker hired;32 when two workers are hired;37 when three are hired;and 40 when four are hired.The farmer's product sells for $3 per unit and the wage rate is $13 per worker. Refer to the given information.The marginal product of the second worker is:

• A) 24.
• B) 8.
• C) 5.
• D) 1.

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Definitions:

Semantics

The study of meaning in language, including the meanings of words, phrases, signs, and symbols.

Role Expectations

The social norms and behaviors that are anticipated from an individual in a specific position or role.

Hit a Home Run

To achieve great success in a particular endeavor or activity, often surpassing expectations.

Cultural Intelligence

The capability to function effectively in culturally diverse settings.