« previous next »

Author Question: Which of the following is the most accurate definition of a worker's marginal revenue product? a. ... (Read 19 times)

roselinechinyere27m

  • Hero Member
  • *****
  • Posts: 557
on: Jun 30, 2018
Which of the following is the most accurate definition of a worker's marginal revenue product?
 a. The change in the firm's profits as the result of hiring an additional worker.
  b. The change in the firm's total revenue as the result of hiring an additional worker.
  c. The change in the firm's output as the result of hiring an additional worker.
  d. The change in the firm's cost as the result of hiring an additional worker.

Question 2

Which of the following best describes marginal cost?
 a. The change in total cost when one additional unit of output is produced.
  b. Total cost divided by the quantity of output produced.
  c. Total variable cost divided by the quantity of output produced.
  d. Total fixed cost divided by the quantity of output produced.
  e. Costs that do not vary as output varies, and that must be paid even if output is zero.


Ptupou85

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

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?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

A graphical representation of the marginal value theorem. A graphical representation of the marginal value theorem.
Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ... Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ...
Marginal Products of Physical and Human Capital Marginal Products of Physical and Human Capital
Predicted versus Actual GDP per Worker Predicted versus Actual GDP per Worker
GloFish, marketed as the world’s first GM pet, are a controversial product of genetic engineering GloFish, marketed as the world’s first GM pet, are a controversial product of genetic engineering
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Video: The primary factors that affect circulation - MABP, CO and SVR

For a complete list of videos, visit our video library