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Author Question: The value of marginal product of labor is the increase in A) revenue created by producing one ... (Read 63 times)

Caiter2013

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on: Jun 29, 2018
The value of marginal product of labor is the increase in
 
  A) revenue created by producing one more unit of output.
  B) revenue created by hiring one more unit of labor.
  C) total product necessary to make revenue increase by one dollar.
  D) total product generated by hiring one more unit of labor.

Question 2

Within a monopolistically competitive industry
 
  A) firms can freely enter and exit and economic profits are zero in the long run.
  B) firms can freely enter and exit and economic profits are greater than zero in the long run.
  C) there are some barriers to entry and exit and economic profits are zero in the long run.
  D) there are some barriers to entry and exit and economic profits are greater than zero in the long run.


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yuyiding

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


Caiter2013

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

LegendaryAnswers

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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