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 14 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
Great answer, keep it coming :)

TheNamesImani

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

The Increase in Divorce The Increase in Divorce
North Korea: Labor Issues North Korea: Labor Issues
Closed and Open Food Product Dating Closed and Open Food Product Dating
Efficient Allocation of Labor between Sectors Efficient Allocation of Labor between Sectors
Increase in Surface Area by Mechanical Weathering Increase in Surface Area by Mechanical Weathering
Erosional Landforms Created by Alpine Glaciers Erosional Landforms Created by Alpine Glaciers
Video: Muscle Fatigue and Recovery

For a complete list of videos, visit our video library