Multiple Choice
Use the information below to answer the following questions.
Fact 17.2.1
Wanda's is a fish store that hires students to pack the fish.The fish market is competitive.Originally the price is 50¢ a kilogram.The market for packers is competitive and their market wage rate is $7.50 an hour.Then the market price of fish falls to 33.33¢ a kilogram but the wage rate of fish packers remains at $7.50 an hour.
-Refer to Fact 17.2.1.As a result,the students' marginal product ________ and the students' value of marginal product ________.
A) decreases;does not change
B) does not change;does not change
C) decreases;decreases
D) does not change;decreases
E) decreases;increases
Correct Answer:

Verified
Correct Answer:
Verified
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