This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The value of marginal product (VMP) of labor is the extra revenue generated by A) selling one ... (Read 27 times)

cabate

  • Hero Member
  • *****
  • Posts: 537
on: Jun 29, 2018
The value of marginal product (VMP) of labor is the extra revenue generated by
 
  A) selling one additional unit of output.
  B) raising the price of the good by one dollar.
  C) hiring one additional unit of labor.
  D) price discrimination.

Question 2

In the short run, a firm will
 
  A) not produce if its total revenue does not cover its total cost.
  B) produce and incur an economic loss if its total revenue covers its total variable cost but not its total cost.
  C) produce and break even if its total revenue covers its total fixed cost but not its total variable cost.
  D) produce and earn an economic profit if its total revenue is equal to its total cost.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

CharlieArnold

  • Sr. Member
  • ****
  • Posts: 319
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


cabate

  • Member
  • Posts: 537
Reply 2 on: Jun 29, 2018
Wow, this really help

scikid

  • Member
  • Posts: 300
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Stages of labor. Stages of labor.
North Korea: Labor Issues North Korea: Labor Issues
the transamination product of tryptophan is decarboxylated to yield indole-3-acetic acid, or auxin the transamination product of tryptophan is decarboxylated to yield indole-3-acetic acid, or auxin
Use the product rule to find derivative Use the product rule to find derivative
Excel hardware is introducing a new product on a new product line of capacity 800 units per ... Excel hardware is introducing a new product on a new product line of capacity 800 units per ...
Three queens, fertile females in species that have a reproductive division of labor. Three queens, fertile females in species that have a reproductive division of labor.
Video: Knee Animation

For a complete list of videos, visit our video library