The Following Table Shows Output Per Hour Produced by the Different

question 107

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, the marginal revenue product of the:

• A)fourth worker is $8.
• B)fifth worker is $3.
• C)first worker is $3.
• D)third worker is $5.
• E)second worker is $12.

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Definitions:

Termination

The act of bringing an end to something, such as a contract, employment, or operation.

Breach

The violation or infringement of a law, obligation, standard, or agreement.

Accreditation

The process by which an institution or program meets specified standards of quality and is officially recognized.

Earning Capacity

An individual's potential or ability to generate income from employment or other means, often considered in legal contexts relating to compensation for loss or injury.