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

Author Question: What is the difference between labor's marginal product and marginal revenue product? A) The ... (Read 125 times)

Hungry!

  • Hero Member
  • *****
  • Posts: 1,071
on: Jun 29, 2018
What is the difference between labor's marginal product and marginal revenue product?
 
  A) The marginal product of labor is the additional labor's contribution to the firm's total output while the marginal revenue product is the additional labor's contribution to the firm's total sales revenue.
  B) Labor's marginal product is a measure of labor's productivity while labor's marginal revenue product is a measure of labor's ability to sell the firm's products.
  C) The marginal revenue product of labor is the dollar value of hiring an additional worker while the marginal product of labor is the increase in the firm's physical output as a result of hiring an additional worker.
  D) The marginal product of labor is the increase in output as a result of hiring an additional worker while the marginal revenue product of labor is the increase in profit as a result of hiring an additional worker.

Question 2

Refer to Figure 13-13. What is the profit maximizing output level?
 
  A) Q1 units B) Q2 units C) Q3 units D) Q4 units
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

duy1981999

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


Hungry!

  • Member
  • Posts: 1,071
Reply 2 on: Jun 29, 2018
:D TYSM

helenmarkerine

  • Member
  • Posts: 324
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Rivers Are a Product of Their Watersheds Rivers Are a Product of Their Watersheds
This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc
Indentured Labor from Asia Indentured Labor from Asia
How to use the product rule to find the derivative of a function How to use the product rule to find the derivative of a function
Efficient Allocation of Labor between Sectors Efficient Allocation of Labor between Sectors
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
Video: Structures that affect circulation - arterioles and vasomotor responses

For a complete list of videos, visit our video library