Assume That Labor Is the Only Variable Input and That

question 84

Multiple Choice

Assume that labor is the only variable input and that an additional input of labor increases total output from 72 to 78 units.If the product sells for $6 per unit in a perfectly competitive market,then the MRPof this additional worker is:

• A)$78
• B)$72
• C)$36
• D)$39
• E)$6

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Definitions:

Care

The provision of what is necessary for the health, welfare, maintenance, and protection of someone or something.

Adult Children

Adults who maintain a child-like dependency on their parents or parental figures, often due to emotional or economic reasons.

Aging Parents

The phenomenon of adult children coping with and caring for their elderly parents, including the challenges that arise.

Sense of Attachment

The emotional bond that forms between individuals, particularly seen in relationships such as between parent and child.