​In a Perfectly Competitive Market, If Ten Cases of Spring

question 108

Multiple Choice

​In a perfectly competitive market, if ten cases of spring water are sold at a price of $6 each and the marginal product of the last unit of labor is 5 units, then the marginal revenue product of that last unit of labor is ______.

• A)$60
• B)$30
• C)$50
• D)$2
• E)60 cents

Recognize the significance of news and information release on stock prices in an efficient market.

Identify the influence of behavioral biases on investment decisions and market outcomes.

Understand the impact of insider trading and regulatory disclosures on market efficiency.

Assess the performance of mutual funds and the implications for investment choice.

---

Definitions:

Odometer

A device used in vehicles to measure the distance traveled.

Commercial Impracticability

A doctrine that excuses the performance of a contract when an unforeseen event makes it excessively burdensome or difficult to carry out as agreed.

Fraudulent Misrepresentation

False statements made knowingly, without belief in their truth, or recklessly, with intent to deceive and induce another to enter into a contract.

Rescind

To revoke, cancel, or annul a contract, making it as if it never existed.