The Table Below Shows the Total Output Produced by Different

question 110

Multiple Choice

The table below shows the total output produced by different units of a resource. Assume that the resource and output markets are both perfectly competitive. The equilibrium price of the resource is $15.00, and the equilibrium price of the product is $0.50.Table 14.2
Marginal revenue product (MRP) of a resource is the product of the marginal product of the resource and the marginal revenue.
-Refer to Table 14.2. What is the marginal factor cost for the third unit of the resource?

• A)$13.00
• B)$15.00
• C)$17.50
• D)$195.00
• E)$19.50

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Definitions:

War for Independence

Refers to the American Revolutionary War (1775-1783), in which the thirteen American colonies fought for and gained independence from British rule.

Segregated Units

Military or other organizational units that are divided based on race, ethnicity, religion, or gender, often seen historically in the armed forces.

Integrated Units

Military or organizational units composed of members from different racial, ethnic, or gender groups, especially significant in historical contexts of segregation.

Full Persons

Refers to the recognition of individuals' full legal and human rights, often discussed in contexts of civil rights and emancipation.