The Following Table Shows the Total Number of Pizzas Produced

question 5

Multiple Choice

The following table shows the total number of pizzas produced by 7 workers.
Table 16-1 $$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Number of } \\\text { workers }\end{array} & \begin{array} { c } \text { Total number of pizzas } \\\text { produced per day }\end{array} \\\hline 0 & 0 \\\hline 1 & 6 \\\hline 2 & 13 \\\hline 3 & 18 \\\hline 4 & 21 \\\hline 5 & 23 \\\hline 6 & 22 \\\hline 7 & 20 \\\hline\end{array}$$
-Refer to Table 16-1.If the pizza industry is competitive and the price of a pizza is $10,then which of the following is true?

• A)The marginal value product of the third worker is $50.
• B)The marginal value product of the fifth worker is $10.
• C)The marginal product of the fourth worker is 21 pizzas.
• D)The marginal product of the second worker is 6 pizzas.

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Definitions:

Retail Selling

The process of selling goods or services directly to consumers through various channels, such as stores, online platforms, or by phone.

Product Differentiation

The practice of distinguishing a product or service from others, to make it more attractive to a particular target market.

Demand Curves

Graphical representations showing the relationship between the price of a good and the quantity demanded by consumers.

Competitive Price-searcher

A market structure where firms have some degree of market power and set prices above marginal costs but must consider competitors' prices to attract consumers.