This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The value of marginal product of labor is the increase in A) revenue created by producing one ... (Read 64 times)

Caiter2013

  • Hero Member
  • *****
  • Posts: 607
on: Jun 29, 2018
The value of marginal product of labor is the increase in
 
  A) revenue created by producing one more unit of output.
  B) revenue created by hiring one more unit of labor.
  C) total product necessary to make revenue increase by one dollar.
  D) total product generated by hiring one more unit of labor.

Question 2

Within a monopolistically competitive industry
 
  A) firms can freely enter and exit and economic profits are zero in the long run.
  B) firms can freely enter and exit and economic profits are greater than zero in the long run.
  C) there are some barriers to entry and exit and economic profits are zero in the long run.
  D) there are some barriers to entry and exit and economic profits are greater than zero in the long run.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

yuyiding

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


Caiter2013

  • Member
  • Posts: 607
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

adf223

  • Member
  • Posts: 304
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Primary production increases with an increase in total phosphorus concentration. Primary production increases with an increase in total phosphorus concentration.
Boundaries within landscapes created by human activity (background) and natural environmental gradie Boundaries within landscapes created by human activity (background) and natural environmental gradie
Results from sequential study of two cohorts tested at three ages and at three different points in t Results from sequential study of two cohorts tested at three ages and at three different points in t
Warming friction created with a sawing motion (i.e., ulnar friction). The ulnar sides of the hands ... Warming friction created with a sawing motion (i.e., ulnar friction). The ulnar sides of the hands ...
Excel hardware is introducing a new product on a new product line of capacity 800 units per ... Excel hardware is introducing a new product on a new product line of capacity 800 units per ...
Increase in total spending in presidential campaigns, 1976-2020 Increase in total spending in presidential campaigns, 1976-2020
Video: Role of transport in a cell

For a complete list of videos, visit our video library