Refer to the following:
The table below shows a competitive firm's short-run production function. Labor is the firm's only variable input, and market price for the firm's product is $2 per unit.
-How much does the fifth unit of labor add to the firm's total revenue?
A) $160
B) $80
C) $60
D) $40
E) $10
Correct Answer:
Verified
Q22: Refer to the following figure:

Q22: A firm in a competitive industry faces
Q23: Refer to the following figure:

Q24: Suppose that a perfectly competitive industry is
Q25: Refer to the following:
The table below
Q27: An industry is in long-run competitive equilibrium.The
Q28: Which of the following CANNOT be true
Q29: Refer to the following:
The table below
Q30: Refer to the following figure:

Q38: A competitive firm will maximize profit by
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