The Following Table Shows How Apple Output Changes as Additional

question 37

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 price of apples increases to $10 per basket and the equilibrium wage is $40 per day,how many apple pickers will the firm hire?

• A) 2.
• B) 3.
• C) 4.
• D) 5.

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Definitions:

Office Workers

Individuals who work in an office environment, typically performing administrative or clerical tasks.

Socioeconomic Status

Social class, usually measured by income level, job prestige, and/or education level.

Social Class

A division of society based on social and economic status.

Income Level

The amount of money earned by an individual or household, which can affect access to resources, social status, and lifestyle.