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

question 149

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 30.3, the marginal revenue product of the second worker hired is

• A)$4 per hour.
• B)$6 per hour.
• C)$24 per hour.
• D)$40 per hour.

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Definitions:

Larynx

Cartilaginous organ located between the pharynx and the trachea; in humans, contains the vocal cords; sometimes called the voice box.

Bronchi

The major air passages of the lungs that diverge from the windpipe, allowing the transportation of air in and out of the lungs.

Tidal Volume

The volume of air inhaled or exhaled in a normal breath during resting conditions.

Static Volume

A measurement in fluid mechanics that refers to the volume of a fluid at rest.