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

Author Question: If a profit-maximizing firm hires an additional unit of labor, what must be true about labor's wage ... (Read 126 times)

Wadzanai

  • Hero Member
  • *****
  • Posts: 528
on: Jun 30, 2018
If a profit-maximizing firm hires an additional unit of labor, what must be true about labor's wage and marginal revenue product?
 a. Its wage always equals its marginal revenue product.
  b. Its wage is always greater than its marginal revenue product.
  c. Its wage is always total revenue minus marginal revenue product.
  d. Its wage is always greater than or equal to its marginal revenue product.
  e. Its wage is always less than or equal to its marginal revenue product.

Question 2

In the U.S., people tend to discard items rather than repair them because
 a. Americans are lazy
  b. of the high opportunity cost of time
  c. it is costly to use land for waste disposal
  d. high wages in the waste disposal industry discourages repairs
  e. low wages in the repair industry encourages disposal


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sokh

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jun 30, 2018
Answer to Question 1

E

Answer to Question 2

B


Wadzanai

  • Member
  • Posts: 528
Reply 2 on: Jun 30, 2018
Wow, this really help

alexanderhamilton

  • Member
  • Posts: 334
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

The organization of mRNA as a translational unit The organization of mRNA as a translational unit
John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d
Choose the telephone unit that offers the features needed in your office. Choose the telephone unit that offers the features needed in your office.
Unit Pricing Comparison Unit Pricing Comparison
Anterosuperior view of true pelvis (blue) Anterosuperior view of true pelvis (blue)
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
Video: Gastroesophageal Reflux Disease (GERD)

For a complete list of videos, visit our video library