The Following Table Shows Total Output Produced by Different Units

question 71

Multiple Choice

The following table shows total output produced by different units of capital. Table 14.3
The marginal revenue product of a resource is the product of the marginal product of the resource and the marginal revenue.
In Table 14.3, how many units of capital will the firm hire if the price per unit of capital is $60?

• A)1 unit of capital.
• B)2 units of capital.
• C)3 units of capital.
• D)4 units of capital.
• E)5 units of capital.

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Definitions:

Early Childhood

A developmental period in human life, typically considered to be from birth up to 8 years, characterized by rapid physical, cognitive, and social growth.

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Structured forms of play, often undertaken for enjoyment and sometimes used as an educational tool.

Play

Activities engaged in for enjoyment and recreation, especially by children, but often also by adults, which can be both structured and unstructured.

Socialization Process

The means through which individuals learn and internalize the values, norms, and practices of their culture.