The Following Table Shows How Apple Output Changes as Additional

question 52

Multiple Choice

The following table shows how apple output changes as additional apple pickers are hired.Calculate marginal physical product,total revenue,and marginal revenue product.The price of apples is $4 per basket.
Table 8.1-Apple Production
-In Table 8.1,if the equilibrium wage is $20 per day,how many apple pickers will the firm hire?

• A) 2.
• B) 3.
• C) 4.
• D) 5

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Definitions:

P(x > a)

The probability that a random variable x will take a value greater than a specified number a.

P(x < a)

This notation represents the probability that a random variable x is less than some value a.

Random Variable

A variable whose values depend on outcomes of a random phenomenon.

P(x < a)

This denotes the probability that the random variable X takes on a value less than a specific value a.