Author Question: A firm that can sell its output for 40 per unit. When it increases its labor force from 4 workers to ... (Read 49 times)

captainjonesify · **on:** Jun 29, 2018

A firm that can sell its output for 40 per unit. When it increases its labor force from 4 workers to 5 workers its output increases from 15 to 17 units. The value of marginal product of the 5th worker is

A) 680.
B) 340.
C) 80.
D) 40.

Question 2

The table above shows the payoff matrix for a prisoners' dilemma. In the Nash equilibrium

A) both prisoners get 3 years in jail.
B) both prisoners get 2 years in jail.
C) both prisoners get 1 year in jail.
D) both prisoners get 10 years in jail.