Suppose That Eight Workers Can Manufacture 70 Radios Per Day

question 558

Multiple Choice

Suppose that eight workers can manufacture 70 radios per day and that nine workers can manufacture 90 radios per day. If radios can be sold for $20 each, the value of marginal product of the ninth worker is

• A)20 radios.
• B)90 radios.
• C)$200.
• D)$400.

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Definitions:

Mix of Potential Immigrants

The diverse characteristics (such as skills, education, and country of origin) of immigrants considered for entry into a country.

Optimal Quantity

The quantity of a good or service that maximizes a company's profits or an individual's utility, depending on the context.

Standard of Living

This is a measure of the economic prosperity and quality of life in a country or region, often assessed by income levels, access to goods and services, and other socioeconomic factors.

Fiscal Burdens

The financial obligations, such as taxes and debt payments, that a government must bear.