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

Author Question: The value of marginal product of labor is the increase in A) revenue created by producing one ... (Read 34 times)

Caiter2013

  • Hero Member
  • *****
  • Posts: 607
on: Jun 29, 2018
The value of marginal product of labor is the increase in
 
  A) revenue created by producing one more unit of output.
  B) revenue created by hiring one more unit of labor.
  C) total product necessary to make revenue increase by one dollar.
  D) total product generated by hiring one more unit of labor.

Question 2

Within a monopolistically competitive industry
 
  A) firms can freely enter and exit and economic profits are zero in the long run.
  B) firms can freely enter and exit and economic profits are greater than zero in the long run.
  C) there are some barriers to entry and exit and economic profits are zero in the long run.
  D) there are some barriers to entry and exit and economic profits are greater than zero in the long run.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

yuyiding

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


Caiter2013

  • Member
  • Posts: 607
Reply 2 on: Jun 29, 2018
Gracias!

shailee

  • Member
  • Posts: 392
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

The Head Start program was designed to increase the school readiness of low-income children. The Head Start program was designed to increase the school readiness of low-income children.
Mean scores for Erikson’s stage VI (Intimacy) for two cohorts. Scores for both cohorts increase ... Mean scores for Erikson’s stage VI (Intimacy) for two cohorts. Scores for both cohorts increase ...
This label on a Toyota Camry hybrid shows the relative smog-producing emissions, but this does not ... This label on a Toyota Camry hybrid shows the relative smog-producing emissions, but this does not ...
The human eye, a product of 600 million years of evolution (Lamb, Collin, & Pugh, 2007). The human eye, a product of 600 million years of evolution (Lamb, Collin, & Pugh, 2007).
IPCC Temperature Increase Predictions Relative to 1986-2005 IPCC Temperature Increase Predictions Relative to 1986-2005
How high a hill would a 75-kg hiker have to climb to increase her gravitational potential ... How high a hill would a 75-kg hiker have to climb to increase her gravitational potential ...
Video: Condensation and Hydrolysis Animation

For a complete list of videos, visit our video library