When each factor is paid a payment equal to the marginal revenue product of the last unit of that factor employed in the factor market as a whole, this is referred to as:

the marginal productivity theory.

Explanation:

In a perfectly competitive market, each factor of production is paid a payment equal to its marginal productivity. The price of the factors is not determined by the company, instead it is determined by the industry as a whole.

For example, if an extra unit of labor is able to produce $15 worth of output, then the payment for the unit of labor should be $15.

3

Step-by-step explanation:

The given data shows that only 1 row was in use. We also know that Mr. Torres is an adult. So for the ease, lets use A for Adult and S for student.

The seating must fulfill the requirements that 4 students must be between adults such that it would be "A-S-S-S-S-A"

On a row of 11 seats, this should be the searing arrangements.

A-S-S-S-S-A-S-S-S-S-A ( for 1 row).

Mr. Torres could be any A .