When 5 Units of Labor Are Employed, Total Product Is

question 200

Multiple Choice

When 5 units of labor are employed, total product is 9 units; when 6 units of labor are employed, total product is 11 units of output. If the price of output is $5 per unit, what is the marginal revenue product of the 6th unit of labor?

• A) $10
• B) $5
• C) $15
• D) $55

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Definitions:

Emotional Intelligence

The capacity to be aware of, control, and express one's emotions, and to handle interpersonal relationships judiciously and empathetically.

Decision-making

The cognitive process of making a choice or finding a solution among several alternatives.

Performance

The act of carrying out a task or function, often evaluated in terms of effectiveness or efficiency.

Judgments

The act of making considered decisions or coming to sensible conclusions.