Refer to the graph below for a purely competitive firm in the short run. The firm would suffer losses if it operates at which of the following range of output?

The marginal products of the first, second, and third workers are 20, 12, and 8, respectively. If four workers can produce 45 units of output, then the marginal product of the fourth worker is

A. 4. B. 5. C. 40. D. 45.

A nation's producers can compete effectively with imports from other nations if:

a. they have an absolute advantage in the production of all goods. b. they have an abundance of unskilled workers. c. they have a high opportunity cost of production. d. the relative price of exports to imports is high. e. the labor cost per unit of output is low.