For a Firm Which Has Some Power in the Product

question 134

Multiple Choice

For a firm which has some power in the product market, the marginal revenue product of the fifth worker is $15 and the price of the last unit of output produced is $5. The firm will hire the fifth worker if 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:

FITT Formula

A principle for fitness improvement that stands for Frequency, Intensity, Time, and Type of exercise.

Progressive Overload

A training principle that involves gradually increasing the weight, frequency, or number of repetitions in strength training to stimulate muscle growth and strength gains.

Specificity

The principle that suggests that training effects are most pronounced when exercise is specifically designed for a particular sport or fitness goal.

Individuality

The distinct characteristics and qualities that make a person unique.