If the marginal revenue product of the fifth worker hired by a firm is $15 and the price of the last unit of output produced is $5, then the marginal product of the fifth worker is
a. 15 units of output if the product market is perfectly competitive
b. 3 units of output if the product market is perfectly competitive
c. 45 units of output if the product market is perfectly competitive
d. 5 units of output if the product producer is a price searcher
e. 15 units of output if the product producer is a price searcher
B
Economics
You might also like to view...
During the 2007-2009 financial crisis, many households found themselves with debts to repay. How might this explain the consumer response to the 2008 Tax Rebate?
What will be an ideal response?
Economics
The economy of Cuba most closely approximates:
A. laissez-faire capitalism. B. a command economy. C. a market economy. D. pure capitalism.
Economics