« previous next »

Author Question: Is the poverty rate the lowest among Hispanic households, black households, or white households? ... (Read 121 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?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

White-throated Bee-eater White-throated Bee-eater
Black Knapweed Black Knapweed
Emanuel Leutze’s Washington Crossing the Delaware (1851) is riddled with historical inaccuracies, mo Emanuel Leutze’s Washington Crossing the Delaware (1851) is riddled with historical inaccuracies, mo
Areas of sclerosis (see arrows) in the white matter of a patient with MS. Areas of sclerosis (see arrows) in the white matter of a patient with MS.
Video: Major Elements in Biological Molecules: Nucleic acids

For a complete list of videos, visit our video library