Refer to the below table. The marginal revenue product of the fourth unit of input is approximately:
A. $27
B. $21
C. $16
D. $13
B. $21
Economics
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In a competitive market equilibrium
A) marginal benefit and marginal cost are maximized. B) the marginal benefit equals the marginal cost of the last unit sold. C) total consumer surplus equals total producer surplus. D) consumers and producers benefit equally.
Economics
Average productivity can be measured as total output divided by total units of labor
a. True b. False Indicate whether the statement is true or false
Economics