« previous next »

Author Question: The value of the marginal product of labor is the: A) value of the output produced by all the ... (Read 72 times)

xclash

  • Hero Member
  • *****
  • Posts: 681
on: Jun 29, 2018
The value of the marginal product of labor is the:
 
  A) value of the output produced by all the workers in a firm.
  B) contribution of an additional unit of labor to a firm's revenue.
  C) extra output that is produced by hiring an additional unit of labor.
  D) amount of output produced by the first unit of labor hired by a firm.

Question 2

You have the choice of going to Hawaii for a week, staying at work for the week, or spending the week skiing. If you decide to go to Hawaii, the opportunity cost is
 
  A) the value of working and skiing.
  B) the value of working or skiing, depending on which you would have done rather than go to Hawaii.
  C) working, because you would be giving up a week's pay.
  D) none of the above if you enjoy the time spent in Hawaii.


cassie_ragen

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Comparison of the radius of fruits produced by native and introduced species of Sapindaceae Comparison of the radius of fruits produced by native and introduced species of Sapindaceae
Mendel's breeding program that produced a 9 : 3 : 3 : 1 ratio Mendel's breeding program that produced a 9 : 3 : 3 : 1 ratio
Recombinants are meiotic output different from meiotic input Recombinants are meiotic output different from meiotic input
Spiral Produced by twisting stresses that are spread along the length of a bone (note the break in t Spiral Produced by twisting stresses that are spread along the length of a bone (note the break in t
The site of Dmanisi has produced some of the earliest H. erectus outside of Africa. The site of Dmanisi has produced some of the earliest H. erectus outside of Africa.
Child Labor Rates and GDP Worldwide Child Labor Rates and GDP Worldwide
Video: Oxygen - hemoglobin dissociation curve & Hemoglobin's affinity with oxygen - acidity

For a complete list of videos, visit our video library