The Table Below Shows the Total Number of Loaves of Bread

question 101

Multiple Choice

The table below shows the total number of loaves of bread a bakery can bake per year with different numbers of ovens.The market for bread is perfectly competitive,with a market price of $2 per loaf.For which oven is the value of marginal product equal to $1400?

• A) oven 1
• B) oven 2
• C) oven 3
• D) oven 4
• E) none of the ovens has value of marginal product equal to $1400

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Definitions:

Active Portfolio

A portfolio of investments managed with the goal of achieving returns that exceed those of the market or specified benchmark indices through active buying and selling strategies.

Perfect Timing

Perfect timing refers to the ideal moment to buy or sell a security in order to achieve the highest possible gains based on market conditions.

Market Portfolio

A theoretical portfolio of investments that contains all available assets in the market, weighted by market capitalization.

Call Option

The right to buy an asset at a specified exercise price on or before a specified expiration date.