« previous next »

Author Question: Is the poverty rate the lowest among Hispanic households, black households, or white households? ... (Read 79 times)

dakota nelson

  • Hero Member
  • *****
  • Posts: 604
on: Jun 29, 2018
Is the poverty rate the lowest among Hispanic households, black households, or white households?
 
  What will be an ideal response?

Question 2

What is the value of marginal product of labor? What is the formula that can be used to calculate it? How does the value of marginal product affect how much labor a firm hires?
 
  What will be an ideal response?


Anonymous

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

The poverty rate is lowest among white households. About 8.5 percent of white households live in poverty whereas about 22 percent of Hispanic and 25 percent of black households live in poverty.

Answer to Question 2

The value of marginal product of labor tells the additional amount of revenue the firm earns by hiring an extra unit of labor, so it is the value to a firm of hiring one more unit of labor. The value of marginal product equals the price of a unit of output multiplied by the marginal product of labor. The firm maximizes its profit by hiring up to the point where the value of marginal product equals the wage rate.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

dakota nelson

  • Hero Member
  • *****
  • Posts: 604
Reply #2 on: Jun 29, 2018
Correct answers!


Anonymous

  • Sr. Member
  • ****
  • Posts: 317
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

English White Terrier English White Terrier
Diphtheria. The bacteria that cause this disease, called Corynebacterium diphtheriae, proliferate in Diphtheria. The bacteria that cause this disease, called Corynebacterium diphtheriae, proliferate in
Beautiful white Lion in Easter Cape, South Africa Beautiful white Lion in Easter Cape, South Africa
How to solve rate problems leading to fractional equations (Question 2) How to solve rate problems leading to fractional equations (Question 2)
If a graph has the following x-intercepts, which value of x is the instantaneous rate of change ... If a graph has the following x-intercepts, which value of x is the instantaneous rate of change ...
Gene gun used to blast gold particles containing pea gene A into cells of white petals Gene gun used to blast gold particles containing pea gene A into cells of white petals
Video: Brain Lobes Animation

For a complete list of videos, visit our video library