If Ten Cases of Spring Water Are Sold at a Price

question 68

Multiple Choice

If ten cases of spring water are sold at a price of $6 each in a perfectly competitive output market and the marginal product of the last unit of labor is 5, then the marginal revenue product of that last unit of labor is

• A)$60
• B)$30
• C)$50
• D)$2
• E)60 cents

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Definitions:

Job Changes

Refers to alterations in employment situations, such as changing roles, companies, or industries.

Group Similar Work

The practice of organizing tasks, projects, or jobs that have common characteristics or objectives into the same category or team.

Frequent

Occurring or done on many occasions, in many cases, or in quick succession.

Volunteer Work

Activities or tasks performed willingly by individuals without financial compensation for the benefit of the community.