Table 3.1
-Referring to Table 3.1,which of the following answers is INCORRECT? If pots sell for $20 each,then
A) the marginal revenue product of labor of the second worker is $260.
B) the marginal product of the third worker is five pots.
C) the marginal revenue from selling the eighteenth pot is $20.
D) the marginal revenue product of labor equals the marginal product of labor multiplied by the additional revenue that is received per unit of output.
Correct Answer:
Verified
Q1: Table 3.1 Q2: If a tax is placed on an Q4: Employee subsidies will be most effective at Q5: Most of a payroll tax is eventually Q6: The firm's labor demand curve in the Q7: If the firm hires to a point Q8: When a firm moves to a higher Q9: When deciding the salary of a sports Q10: Declining marginal product of labor Q11: A competitive industry hires 1000 workers.The 1000th
A) is needed
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents