The demand and supply curves shown below apply to a competitive market for a factor used in the production of widgets. FIGURE 13-2
-Refer to Figure 13-2.This factor market is in equilibrium at point B.What is the marginal revenue product of the 40th unit of the factor employed?
A)$8 multiplied by the price of the product
B)$320
C)$8
D)the marginal product of the 40th unit employed multiplied by the wage
E)$8 multiplied by the marginal revenue of the 40th unit employed

Question

The demand and supply curves shown below apply to a competitive market for a factor used in the production of widgets.  FIGURE 13-2
-Refer to Figure 13-2.This factor market is in equilibrium at point B.What is the marginal revenue product of the 40th unit of the factor employed?
A)$8 multiplied by the price of the product 
B)$320 
C)$8 
D)the marginal product of the 40th unit employed multiplied by the wage 
E)$8 multiplied by the marginal revenue of the 40th unit employed

Quizplus · Accepted Answer

The Answer of The demand and supply curves shown below apply to a competitive market for a factor used in the production of widgets.  FIGURE 13-2
-Refer to Figure 13-2.This factor market is in equilibrium at point B.What is the marginal revenue product of the 40th unit of the factor employed?
A)$8 multiplied by the price of the product 
B)$320 
C)$8 
D)the marginal product of the 40th unit employed multiplied by the wage 
E)$8 multiplied by the marginal revenue of the 40th unit employed

The Demand and Supply Curves Shown Below Apply to a Competitive