Question
Marginal product is A. the increase in total output attributable to the employment of one more worker. B. total product multiplied by the number of
Marginal product is
A. the increase in total output attributable to the employment of one more worker.
B. total product multiplied by the number of workers employed.
C. the increase in total cost attributable to the employment of one more worker.
D. total product divided by the number of workers employed.
A monopolistic firm has a sales schedule such that it can sell 10 prefabricated garages per week at $10,000 each, but if it restricts its output to 9 per week, it can sell these at $11,000 each. The marginal revenue of the tenth unit of sales per week is
A. -$1,000
B. $10,000.
C. $9,000.
D. $1,000.
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