-Refer to the Above Table

question 310

Multiple Choice

-Refer to the above table. If the price of the good produced is $7, the marginal revenue product of the 11th worker is

• A) $700
• B) $4200
• C) $630
• D) $3500

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Definitions:

Exponential Equation

An equation where the variable appears in the exponent, expressing the relationship between two quantities where one varies as a constant power of another.

Decimal Places

The count of numbers present after the decimal point in a decimal numeral.

Annual Interest Rate

The percentage of principal charged by lenders or paid to investors per annum.

Compounded Continuously

A calculation involving the natural exponential function for the interest that is added to an amount of money based on an infinitely small rate over a period of time.