Author Question: The increase in revenue created by hiring one more unit of labor is the A) marginal product of ... (Read 23 times)

Mollykgkg · **on:** Jun 29, 2018

The increase in revenue created by hiring one more unit of labor is the

A) marginal product of labor.
B) marginal revenue of labor.
C) marginal product revenue of labor.
D) value of marginal product of labor.

Question 2

An externality occurs when

A) the costs of producing a good are paid entirely by the producer.
B) some of the costs of producing a good are paid by someone other than the producer.
C) the marginal social cost of an activity increases as that activity is increased.
D) Both answers A and C are correct.