Author Question: If the total cost incurred in hiring ten workers by a firm is 45, and the total cost incurred when ... (Read 136 times)

Hungry! · **on:** Jun 30, 2018

If the total cost incurred in hiring ten workers by a firm is 45, and the total cost incurred when the eleventh worker is hired is 60, the marginal cost of hiring the eleventh worker is:

A) 20. B) 15. C) 105. D) 1.33.

Question 2

What are the different things that are not accounted for in the calculation of the GDP of a country?

What will be an ideal response?

FergA · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

B

Answer to Question 2

The first major drawback of GDP is the omission of depreciation. The second major drawback is the omission of home production. Another drawback is that black market transactions are not included in the GDP. Externalities and the value of leisure are also omitted from the calculation of GDP.