« previous next »

Author Question: Is the poverty rate the lowest among Hispanic households, black households, or white households? ... (Read 78 times)

dakota nelson

  • Hero Member
  • *****
  • Posts: 604
on: Jun 29, 2018
Is the poverty rate the lowest among Hispanic households, black households, or white households?
 
  What will be an ideal response?

Question 2

What is the value of marginal product of labor? What is the formula that can be used to calculate it? How does the value of marginal product affect how much labor a firm hires?
 
  What will be an ideal response?


Anonymous

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

The poverty rate is lowest among white households. About 8.5 percent of white households live in poverty whereas about 22 percent of Hispanic and 25 percent of black households live in poverty.

Answer to Question 2

The value of marginal product of labor tells the additional amount of revenue the firm earns by hiring an extra unit of labor, so it is the value to a firm of hiring one more unit of labor. The value of marginal product equals the price of a unit of output multiplied by the marginal product of labor. The firm maximizes its profit by hiring up to the point where the value of marginal product equals the wage rate.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

dakota nelson

  • Hero Member
  • *****
  • Posts: 604
Reply #2 on: Jun 29, 2018
Correct answers!


Anonymous

  • Sr. Member
  • ****
  • Posts: 317
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

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?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

An illustration of the helium atom, depicting the nucleus (pink) and the electron cloud distribution An illustration of the helium atom, depicting the nucleus (pink) and the electron cloud distribution
Biston betularia betularia morpha carbonaria, the black-bodied peppered moth Biston betularia betularia morpha carbonaria, the black-bodied peppered moth
Sample Workout in the Target Heart Rate Range Sample Workout in the Target Heart Rate Range
Relationship between Income Inequality and the Desired Tax Rate Relationship between Income Inequality and the Desired Tax Rate
Daniel's Enterprises has a beta of 1.98 and a growth rate of 12 percent. The stock is ... Daniel's Enterprises has a beta of 1.98 and a growth rate of 12 percent. The stock is ...
Some of the Alleles present at white locus Some of the Alleles present at white locus
Video: Exocytosis - secretion

For a complete list of videos, visit our video library