« previous next »

Author Question: Is the poverty rate the lowest among Hispanic households, black households, or white households? ... (Read 157 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, 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?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Ground cover and colour such as shown here in (a) white sand Ground cover and colour such as shown here in (a) white sand
Irish Red and White Setter Irish Red and White Setter
black swallower black swallower
White Blood Cells Involved in Immune Response White Blood Cells Involved in Immune Response
If a graph has the following x-intercepts, which value of x is the instantaneous rate of change ... If a graph has the following x-intercepts, which value of x is the instantaneous rate of change ...
Video: Simple Diffusion - Ion transport

For a complete list of videos, visit our video library