« previous next »

Author Question: Which of the following is the most accurate definition of a worker's marginal revenue product? a. ... (Read 36 times)

roselinechinyere27m

  • Hero Member
  • *****
  • Posts: 557
on: Jun 30, 2018
Which of the following is the most accurate definition of a worker's marginal revenue product?
 a. The change in the firm's profits as the result of hiring an additional worker.
  b. The change in the firm's total revenue as the result of hiring an additional worker.
  c. The change in the firm's output as the result of hiring an additional worker.
  d. The change in the firm's cost as the result of hiring an additional worker.

Question 2

Which of the following best describes marginal cost?
 a. The change in total cost when one additional unit of output is produced.
  b. Total cost divided by the quantity of output produced.
  c. Total variable cost divided by the quantity of output produced.
  d. Total fixed cost divided by the quantity of output produced.
  e. Costs that do not vary as output varies, and that must be paid even if output is zero.


Ptupou85

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

This depiction breaks stereotypes, but is historically accurate. Shown here is an Iroquois fort. Can ... This depiction breaks stereotypes, but is historically accurate. Shown here is an Iroquois fort. Can ...
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
The Definition of Intelligence (1 of 3) The Definition of Intelligence (1 of 3)
The Definition of Intelligence The Definition of Intelligence
The Definition of Intelligence The Definition of Intelligence
Find derivative using product rule Find derivative using product rule
Video: Fetal development - Weeks 9 to 38

For a complete list of videos, visit our video library