The Following Table Shows Output Per Hour Produced by the Different

question 7

Multiple Choice

The following table shows output per hour produced by the different units of labor. Table 14.1
The marginal revenue product of a resource is equal to the product of the marginal product of an input and marginal revenue.
Refer to Table 14.1.If both the wage rate and the price of the good falls to $2, how many workers would the firm hire?

• A)1
• B)2
• C)3
• D)4

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Definitions:

Maintenance Rehearsal

A cognitive process that involves repeatedly verbalizing or thinking about a piece of information to keep it in working memory longer.

Elaborative Rehearsal

A memory technique that involves thinking about the meaning of the information to be remembered or making connections between that information and known information.

Working Memory

A cognitive system with a limited capacity that is responsible for temporarily holding information available for processing.

Phonology

A branch of linguistics concerned with the systematic organization of sounds in languages, specifically how they are used to encode meaning and affect language structure.