« previous next »

Author Question: The change in a firm's revenue as a result of hiring one more worker A) is equal to the firm's ... (Read 90 times)

appyboo

  • Hero Member
  • *****
  • Posts: 527
on: Jun 29, 2018
The change in a firm's revenue as a result of hiring one more worker
 
  A) is equal to the firm's marginal cost.
  B) will be negative if the demand for the firm's output is inelastic.
  C) is the definition of the marginal revenue product of labor.
  D) is the definition of the marginal product of labor.

Question 2

What happens to a monopoly's revenue when it sells more units of its product?
 
  What will be an ideal response?
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


taylorsonier

  • Sr. Member
  • ****
  • Posts: 377
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

The monopolist must lower its price to sell more. Two things happen when a monopolist lowers its price. First, revenue will tend to rise as the monopolist sells more units and second, revenue tend to fall because less revenue is received from each unit than the amount received at the higher price. The total effect on total revenue could be an increase, a decrease, or no change in total revenue.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Demonstration of equal segregation within one meiocyte in the yeast S. cerevisiae Demonstration of equal segregation within one meiocyte in the yeast S. cerevisiae
Colles’ A break in the distal portion of the radius; often the result of reaching out to cushion a f Colles’ A break in the distal portion of the radius; often the result of reaching out to cushion a f
Drag the labels to indicate the change in the size of the reservoir. . . Drag the labels to indicate the change in the size of the reservoir. . .
Family interactions change in response to the developing child, and parenting characteristics, such ... Family interactions change in response to the developing child, and parenting characteristics, such ...
Global Climate Change Global Climate Change
The roots of climate change The roots of climate change
Video: Amniocentesis and CVS Animation

For a complete list of videos, visit our video library