Exhibit 27-5

-Refer to Exhibit 27-5.The value of marginal product (VMP) of the third unit of labor equals
A) $70.
B) $420.
C) $300.
D) $700.
E) $105.
Correct Answer:
Verified
Q78: Exhibit 27-3 Q80: Exhibit 27-4 Q82: Exhibit 27-5 Q84: A price searcher (monopolist,oligopolist)will hire more factor Q85: A price searcher (monopolist,oligopolist,etc.)will maximize its profits Q86: If MPPX/PX > MPPY/PY,the firm should buy Q87: To minimize cost,a firm should hire two Q89: Marginal productivity theory implies that a worker Q97: A perfectly competitive firm will continue to Q115: The elasticity of demand for a factor Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
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