« previous next »

Author Question: Which of the following is the most accurate definition of a worker's marginal revenue product? a. ... (Read 18 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?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

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
Importance of Considering Gestalt Principles in Product Design (2 of 2) Importance of Considering Gestalt Principles in Product Design (2 of 2)
The Definition of Intelligence (2 of 3) The Definition of Intelligence (2 of 3)
Find the derivative using the product rule Find the derivative using the product rule
Find derivative using product rule Find derivative using product rule
Video: Mycobacterium tuberculosis: Drug Resistance and Natural Selection

For a complete list of videos, visit our video library