Use the Following to Answer Questions $\text {Table: Value of the Marginal}$

question 176

Multiple Choice

Use the following to answer questions : $\text {Table: Value of the Marginal}$
$\text {Product of Labour at Demand}$

$\begin{array} { cc}\hline \text {Quantity of Labour}&\text {Total Product}\\ \hline 0 & 0 \\ 1 & 20 \\ 2 & 50 \\ 3 & 90 \\ 4 & 120 \\ 5 & 140 \\ 6 & 150 \\ 7 & 150 \\ 8 & 140 \\\hline\end{array}$
-(Table: Value of the Marginal Product of Labour and Demand) Use Table: Value of the Marginal Product of Labour and Demand.In the table,the total product of labour is shown for the hourly production of power cords.Assume that the market for power cords is perfectly competitive.The price of a power cord is $2,the market wage rate is $40 per hour,and 4 workers are hired.Profit can be maximized by hiring _____ worker(s) .

• A) 1 more
• B) 2 more
• C) 1 fewer
• D) 2 fewer

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Definitions:

Soil Microorganism Respiration

The metabolic process by which soil microorganisms convert organic matter into carbon dioxide and energy.

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A supposed phenomenon where a human body allegedly catches fire and burns as a result of internal chemical reactions, without an external source of ignition.

Percolation

The process of a liquid slowly passing through a filter or porous substance, often used in the context of water movement through soil.

Groundwater

Water stored underground in soil and crevasses, or an aquifer