Use the Following to Answer Questions

question 208

Multiple Choice

Use the following to answer questions :
-(Table: Employment and Output) Use Table: Employment and Output.In the table,if the price of a kilogram of wheat is $10,then the value of the marginal product of the third worker is:

• A) $15.
• B) $150.
• C) $170.
• D) $510.

---

Definitions:

Marginal Cost

The financial outlay required to produce a further unit of a product or service.

Pollution Abatement

Actions taken to reduce, control, or eliminate pollution from sources in order to protect the environment.

Marginal Utility

The supplementary utility or enjoyment obtained by consuming an additional unit of a good or service.

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.