Use the Following to Answer Questions :
Scenario: the Decision

question 117

Multiple Choice

Use the following to answer questions :
Scenario: The Decision to Hire Labour
Assume that both the product market and the labour market are perfectly competitive.The price of this firm's product is $5.The firm's total product with respect to labour is given in the table that follows. $\begin{array}{llcc} \hline \text { Quantity } & \\ \text { of Labour } & \text { Quantity } \\ \text { (workers) } & \text {of Output }\\\hline 0&0\\1 &7\\2 &13\\3&18\\4&21\\\hline\end{array}$

-(Scenario: The Decision to Hire Labour) Use Scenario: The Decision to Hire Labour.What is the value of the marginal product of the third worker to this firm?

• A) $5
• B) $25
• C) $18
• D) $10

---

Definitions:

Detail-Oriented

The characteristic of being meticulously attentive to details, ensuring precision and accuracy in tasks or activities.

Effective Leadership

The ability of a leader to guide, inspire, and influence people towards achieving collective goals while maintaining morale and innovation.

Tax Collector

A government official responsible for collecting taxes from individuals and businesses according to laws and regulations.

Life Span

The length of time for which a person or organism lives or a thing functions.