If a Chair Can Be Sold for $20 and It

question 121

Multiple Choice

If a chair can be sold for $20 and it takes a worker two hours to make a chair,the marginal revenue product of this worker is

• A)$5 per hour.
• B)$10 per hour.
• C)$20 per hour.
• D)$2 per hour.

---

Definitions:

Payoff Matrices

A table that shows the potential outcomes or payoffs in a game for each combination of players' strategies.

Repeated Game

A strategic scenario in which the same game is played multiple times, allowing players to adjust their strategies based on past outcomes.

New Products

Refers to items that have recently been introduced to the market or are in the development stage.

Internet-related Firms

Companies whose primary business activities, products, or services are based on the internet, including e-commerce, online services, and digital platforms.