Table 111 -Refer to Table 11

question 94

Multiple Choice

Table 11.1
$$\begin{array} { | c | c | c | } \hline \text { Machines } & \text { Output } & \text { Product Price (\$) } \\\hline 0 & 0 & 3 \\\hline 1 & 7 & 3 \\\hline 2 & 12 & 3 \\\hline 3 & 15 & 3 \\\hline 4 & 17 & 3 \\\hline 5 & 18 & 3 \\\hline\end{array}$$
-Refer to Table 11.1,which shows the product price of a perfectly competitive firm and the output produced by the firm.The marginal product of the third machine is _____

• A)$3.
• B)5 units.
• C)15 units.
• D)3 units.
• E)$2.

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Definitions:

Expected-Rate-of-Return Curve

A graphical representation showing the range of possible returns on an investment, based on various scenarios or assumptions.

R&D Expenditures

Funds allocated towards research and development activities with the aim of introducing new products or improving existing ones.

Optimal Amount

The most efficient, effective, or desirable quantity of a good or resource to achieve a specific goal or maximize utility.

R&D

Research and Development; activities in businesses and organizations aimed at gaining new knowledge and applying it to develop new products, services, or processes.