The following table shows data for a firm. The first column shows the number of variable resource employed in production, the second column shows the total product of the firm, and the third column shows its product price. If the firm decides to hire nine units of the resource, the market price paid to a resource is _____.
Table 11.4
Definitions:
Social Contract
A theory or model that explains how individuals consent, either implicitly or explicitly, to surrender some of their freedoms and submit to the authority of the state in exchange for protection of their remaining rights.
Gilligan's Theory
A psychological theory proposed by Carol Gilligan, suggesting that women have different moral and psychological tendencies than men, emphasizing relationships and care.
Universal Laws
Fundamental principles or rules that are believed to govern the universe and everything within it.
Authority
The power or right to give orders, make decisions, and enforce obedience.
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