Suppose That a Firm Sells a Good for a Perfectly

question 264

Multiple Choice

Suppose that a firm sells a good for a perfectly competitive price of $5.The equilibrium wage rate is $10.The first worker it hires produces five units.Two workers produce a total of nine units.If it hires 2 workers,the value of marginal product for the second worker is:

• A) $5.
• B) $45.
• C) $20.
• D) $10.

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Definitions:

Shifts of Attention

The process of changing the focus of cognitive resources from one object or task to another.

Working Memory

A brainpower mechanism with a bounded ability, in charge of temporarily preserving data for future manipulation.

Chunking

A memory strategy involving grouping information into larger, manageable units or chunks.

Rehearse

The practice of repeatedly performing or going over material in order to learn or perfect it.