If a firm hires 312 workers it will produce 4,522 units of output. If it hires 313 workers it will produce 4,786 units of output. The marginal physical product of labor equals

A) 4,786.
B) 313.
C) 264.
D) 1.

C

Economics

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Marginal revenue product is:

a. defined as the amount that an additional unit of the variable input adds to the total revenue b. equal to the marginal factor cost of the variable factor times the marginal revenue resulting from the increase in output obtained c. equal to the marginal product of the variable factor times the marginal product resulting from the increase in output obtained d. a and b e. a and c

Economics

The world's largest net debtor nation is

a. Russia b. China c. Brazil d. Mexico e. the United States

Economics