Question :
21) Kevin owns a personal training gym in Laredo, : 1226317
21) Kevin owns a personal training gym in Laredo, Texas. He charges $41 per session. The above table shows the marginal product of trainers in Kevin’s gym. If Kevin hires one trainer, the value of marginal product of this trainer equals
A) 4 clients.
B) $164.
C) $410.
D) $41.
E) None of the above answers is correct.
22) Kevin owns a personal training gym in Laredo, Texas. He charges $41 per session. The above table shows the marginal product of trainers in Kevin’s gym. If Kevin hires three trainers, the value of marginal product of the third trainer equals
A) 2 clients.
B) $82.
C) 9 clients.
D) $369.
E) $123.
23) Kevin owns a personal training gym in Laredo, Texas. He charges $41 per session. The above table shows the marginal product of trainers in Kevin’s gym. If Kevin hires four trainers, the value of marginal product of the fourth trainer equals
A) 10 clients.
B) $410.
C) $41.
D) 1 client.
E) $10.25.
24) The table above shows a the total product schedule of Piece a’ Pi, a producer of pizza in a nearby college town. Suppose workers are paid $10 per hour and the price per pizza is $10. The marginal product of the third worker is
A) 5 pizzas per hour.
B) 17 pizzas per hour.
C) $220 per hour.
D) 7 1/3 pizzas per hour.
E) None of the above answers is correct.
25) The table above shows a the total product schedule of Piece a’ Pi, a producer of pizza in a nearby college town. Suppose workers are paid $12 per hour and the price per pizza is $10. The value of marginal product of the fourth worker is ________ per hour.
A) $240
B) $220
C) $20
D) $12
E) $24
26) The table above shows a the total product schedule of Piece a’ Pi, a producer of pizza in a nearby college town. Suppose workers are paid $12 per hour and the price per pizza is $10. The value of marginal product of the fifth worker is ________ per hour.
A) $240
B) $220
C) $24
D) $10
E) $12
Number of workers
Marginal product
(bats per hour)
1
8
2
7
3
6
4
5
5
4
The table has the marginal products for workers at Bart’s Bats, a baseball bat factory.
27) Using the above table, if the price of a bat is $8, then the value of marginal product of labor of the fourth worker is
A) $40.
B) $0.625.
C) $1.375.
D) 5 bats.
E) None of the above answers is correct.
28) Using the above table, if the wage rate for a worker in a baseball bat manufacturing plant is $18 an hour, and the price of a bat is $3, then the firm will hire ________ workers.
A) 1
B) 2
C) 3
D) 4
E) More information is needed to determine how many workers will be hired.
29) Using the above table, if the wage rate for a worker in a baseball bat manufacturing plant is $12 an hour, and the price of a bat is $3, then the firm will hire ________ workers.
A) 1
B) 2
C) 3
D) 4
E) 5
30) Using the above table, suppose the price of a bat is $3. If the wage rate for a worker in a baseball bat manufacturing plant is $18 an hour, then the firm will hire ________ workers; if the wage rate falls to $12 an hour, then the firm will hire ________.
A) 1; 2
B) 2; 4
C) 3; 3
D) 5; 4
E) 3; 5
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Sweetums
