Table 113 -Refer to Table 11

question 142

Multiple Choice

Table 11.3
$$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Pounds of } \\\text { Candy }\end{array} & \begin{array} { c } \text { Units of } \\\text { Labor }\end{array} \\\hline 80 & 1 \\\hline 120 & 2 \\\hline 150 & 3 \\\hline\end{array}$$
-Refer to Table 11.3,which shows data of a firm producing chocolate candies.If the firm sells chocolate candies for $3 per pound regardless of the quantity sold,the marginal revenue product of the third worker is _____

• A)$0.60.
• B)$6.
• C)$0.30.
• D)$3.
• E)$90.

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Definitions:

Statistical Test

A procedure that uses sample data to evaluate a hypothesis about a population parameter.

Interval Level

Interval level refers to a type of data measurement that includes meaningful, equal distances between values, but without a true zero point, allowing for the measurement of difference and the use of arithmetic operations.

Ratio Level

The highest level of measurement that describes data with a true zero point and equal intervals between values, allowing for a full range of descriptive and inferential statistical operations.

Statistical Test

A procedure for making inferences about the properties of a population, based on sample data.