Use the following table to answer the question : Table 16-1 : shows the total number of pizzas produced by 7 workers.
-Refer to Table 16-1.If the pizza industry is competitive and the price of a pizza is $10,then which of the following is true?
A) The marginal value product of the third worker is $50.
B) The marginal value product of the fifth worker is $10.
C) The marginal product of the fourth worker is 21 pizzas.
D) The marginal product of the second worker is 6 pizzas.
Correct Answer:
Verified
Q1: A competitive firm produces an output of
Q2: The marginal product of labor shows:
A)the total
Q4: For a profit-maximizing firm that is a
Q5: Use the following table to answer the
Q6: When a competitive labor market is in
Q7: Use the following table to answer the
Q8: The marginal value product of labor measures:
A)the
Q9: Assume that a competitive firm sells its
Q10: Use the following table to answer the
Q11: The marginal value product of labor curve
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