-Refer to the Above Table

question 322

Multiple Choice

-Refer to the above table. If the price of the good produced is $6, the marginal revenue product of the 11th worker is

• A) $60.
• B) $66.
• C) $350.
• D) $360.

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Definitions:

Aggregate Demand

The complete call for goods and services across an economy, set at a particular price level and over a definite timeframe.

John Maynard Keynes

British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.

Aggregate Demand

Total economic desires for all goods and services at a uniform price level over a specific period.

Government Interference

Involvement by government in market operations, which can range from regulations and taxes to direct control and ownership of services.