Multiple Choice
If the marginal product of the second worker hired by a firm is 14 units and the price of the tenth unit of output is $7,then the marginal revenue product _____
A) of the second worker is $98 regardless of the structure of the product market.
B) of the second worker is $98 if the firm is a price maker in the product market.
C) of the second worker is $98 if the product market is perfectly competitive.
D) of the tenth worker is $98 if the product market is perfectly competitive.
E) of the tenth worker is $98 if the firm is a price taker in the product market.
Correct Answer:
Verified
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