Author Question: If the marginal revenue product of the fifth worker hired by a firm is 15 and the price of the last ... (Read 89 times)

natalie2426 · **on:** Jun 30, 2018

If the marginal revenue product of the fifth worker hired by a firm is 15 and the price of the last unit of output produced is 5, then the marginal product of the fifth worker is
a. 15 units of output if the product market is perfectly competitive
b. 3 units of output if the product market is perfectly competitive
c. 45 units of output if the product market is perfectly competitive
d. 5 units of output if the product producer is a price searcher
e. 15 units of output if the product producer is a price searcher

Question 2

Pollution taxes are paid out of the EPA Superfund in order to reduce automobile emissions.
a. True
b. False