Having more money and a bigger house than other people is the key to happiness. Which economic approach is most consistent with this idea?

The principle that consumers and firms optimize

A) is not helpful because some economic agents may behave irrationally. B) is helpful because it allows us to analyze how economic agents respond to changes in their environment. C) only applies to perfectly competitive markets. D) is helpful because it determines the available technology.

Answer the question on the basis of the following information. A farmer who has fixed amounts of land and capital finds that total product is 24 for the first worker hired; 32 when two workers are hired; 37 when three are hired; and 40 when four are

hired. The farmer's product sells for $3 per unit and the wage rate is $13 per worker. Refer to the given information. The marginal revenue product of the second worker is: A. $24. B. $8. C. $15. D. $9.