Solved

Given the Table for a Competitive Firm That Is Maximizing

Question 119

Multiple Choice

Given the table for a competitive firm that is maximizing profits, if the marginal revenue product of the last worker hired is $150 and three workers are employed per day, the price of a unit of output must be Given the table for a competitive firm that is maximizing profits, if the marginal revenue product of the last worker hired is $150 and three workers are employed per day, the price of a unit of output must be A) 1,000. B) 100. C) 20. D) 10.


A) 1,000.
B) 100.
C) 20.
D) 10.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q114: What do "wages" and "wage rates" mean

Q115: A firm operating in a purely competitive

Q116: A monopsonist in the labor market tends

Q117: Nominal monthly wages increase from $1,200 to

Q118: Right-to-work laws in some states prohibit the

Q120: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8602/.jpg" alt=" A firm's labor

Q121: African Americans have higher unionization rates than

Q122: In recent years, total compensation to workers

Q123: A profit-maximizing firm operates in purely competitive

Q124: Human capital investment refers to spending on