Assume That the Product Price Is $4 Per Unit and That

question 34

Multiple Choice

Assume that the product price is $4 per unit and that the hourly wage for workers is $12.Neither price nor wage changes with output.In Table 30.1, the marginal physical product of the third worker hired is

• A)15 units per hour.
• B)4 units per hour.
• C)3 units per hour.
• D)5 units per hour.

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Definitions:

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration. It is absorbed by plants in photosynthesis.

Wavelength

The distance between successive crests of a wave, often used to describe the spectrum of electromagnetic radiation.

Visible Light

The portion of the electromagnetic spectrum that is visible to the human eye, ranging approximately from 390 to 700 nanometers wavelength.

Energy

The capacity to perform work or to produce changes within a system, existing in kinetic, potential, thermal, electrical, chemical, nuclear, or other various forms.