The Following Table Shows Output Per Hour Produced by the Different

question 74

Multiple Choice

The following table shows output per hour produced by the different units of labor.Table 14.1
The marginal revenue product of a resource is equal to the product of the marginal product of an input and marginal revenue.
-According to Table 14.1, if the wage rate is $6 per hour, how many workers should this firm hire?

• A)3
• B)2
• C)4
• D)5

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Definitions:

Biological Psychology

A field of psychology that examines how physiological processes and biological structures influence behavior and mental states.

Mood States

Temporary emotional states that influence a person's outlook and perceptions, distinct from personality traits or emotional disorders.

Biological Psychologist

A scientist who studies the biological underpinnings of behavior, cognition, and emotions, often focusing on the brain and nervous system's roles.

Neurotransmitters

Chemical messengers that transmit signals across a chemical synapse from one neuron to another, influencing mental processes and behavior.