Table 8-1 Table 8-1 Shows the Technology of Production at the Matsuko's

question 65

Multiple Choice

Table 8-1
$\begin{array}{|c|c|}\hline \begin{array}{c}\text { Number of } \\\text { Workers }\end{array} & \begin{array}{c}\text { Mushrooms per } \\\text { Day (pounds) }\end{array} \\\hline 1 & 12 \\\hline 2 & 30 \\\hline 3 & 45 \\\hline 4 & 50 \\\hline 5 & 54 \\\hline 6 & 56 \\\hline\end{array}$ Table 8-1 shows the technology of production at the Matsuko's Mushroom Farm for the month of May.
-Refer to Table 8-1.What is the marginal product of the 4th worker?

• A) 137 pounds
• B) 50 pounds
• C) 12.5 pounds
• D) 5 pounds

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Definitions:

Loss

The negative financial result from an investment or business operations, where expenses exceed revenues.

Regulatory Lag

The delay between the identification of a need for regulatory intervention and the implementation of regulatory policies or actions.

Rate-Of-Return Regulation

Maximum price allowed by a regulatory agency is based on the (expected) rate of return that a firm will earn.

Economic Efficiency

A state where resources are optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.