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-The Preceding Table Gives Monthly Production Information for Peter's Peanuts

Question 137

Multiple Choice

-The preceding table gives monthly production information for Peter's Peanuts, a firm in a perfectly competitive industry. The market price of peanuts is $2.00 per pound. What is the marginal product from employing the fourth worker? A) 7 pounds of peanuts B) 100 pounds of peanuts C) 400 pounds of peanuts D) 2,800 pounds of peanuts
-The preceding table gives monthly production information for Peter's Peanuts, a firm in a perfectly competitive industry. The market price of peanuts is $2.00 per pound. What is the marginal product from employing the fourth worker?


A) 7 pounds of peanuts
B) 100 pounds of peanuts
C) 400 pounds of peanuts
D) 2,800 pounds of peanuts

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