Multiple Choice
A competitive firm sells its output for $30 per unit.The marginal product of the 10th worker is 20 units of output per day;the marginal product of the 11th worker is 16 units of output per day.The firm pays its workers a wage of $150 per day.
A) For the 11th worker,the value of the marginal product of labor is $120.
B) For the 11th worker,the value of the marginal product of labor is $480.
C) For the 11th worker,the value of the marginal product of labor is $600.
D) For the 11th worker,the value of the marginal product of labor is $2,400.
Correct Answer:
Verified
Correct Answer:
Verified
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