If the Marginal Revenue Product of the Fifth Worker Is

question 72

Multiple Choice

If the marginal revenue product of the fifth worker is $15, the price of the last unit of output produced is $5, and the firm sells as a price searcher, then the marginal product of the fifth worker is

• A)3 units of output
• B)45 units of output
• C)fewer than 3 units of output
• D)greater than 3 units of output
• E)greater than 75 units of output

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Definitions:

Accounts Payable

The amounts a company owes to suppliers or creditors for goods and services received but not yet paid for.

February

The second month of the year in the Gregorian calendar, commonly associated with the shortest month of 28 days, except in a leap year when it has 29 days.

Cash Collections

The process or total amount of money received by a company from its customers for goods or services offered.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered but not yet paid for.