Suppose the Marginal Revenue Product of the Fifth Worker Hired

question 30

Multiple Choice

Suppose the marginal revenue product of the fifth worker hired by a firm is $18 and the price of the last unit of output produced is $6.The marginal product of the fifth worker is _____

• A)15 units of output if the product market is perfectly competitive.
• B)3 units of output if the product market is perfectly competitive.
• C)45 units of output if the product market is perfectly competitive.
• D)5 units of output if the producer is a price taker.
• E)15 units of output if the producer is a price taker.

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Definitions:

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