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# A firm's demand for labor curve is also called its

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Posts: 356
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A week ago

Question 1.

A firm's demand for labor curve is also called its

marginal benefit of labor curve.

marginal factor cost of labor curve.

marginal revenue product of labor curve.

marginal valuation curve.

Question 2.

Table 17-1

 Quantity of Labor Output (units) 1 80 2 170 3 240 4 300 5 350 6 390 7 420

Refer to Table 17-1. The marginal product of the fourth unit of labor is

300.

75.

60.

15.

Textbook

## InMicro

Edition: 1st
Authors:
8 Replies

### Related Topics

Replies
wrote...
A week ago
 Answer 1marginal revenue product of labor curve.Answer 260.
wrote...
A week ago
 I appreciate what you did here, answered it correctly
wrote...
A week ago

Question 1.

Table 17-1

 Quantity of Labor Output (units) 1 80 2 170 3 240 4 300 5 350 6 390 7 420

Refer to Table 17-1. If the output price is $3, what is the marginal revenue product of the fifth unit of labor?$1,050

$360$210

$150 Question 2. Table 17-1  Quantity of Labor Output (units) 1 80 2 170 3 240 4 300 5 350 6 390 7 420 Refer to Table 17-1. Suppose the output price is$3. If the firm represented in the table is maximizing its profit by hiring six workers, what is the wage rate?

$120$65

$40 There is insufficient information to answer the question.  all is normal wrote... A week ago  Answer 1$150Answer 2$120 wrote... A week ago Question 1. Table 17-1  Quantity of Labor Output (units) 1 80 2 170 3 240 4 300 5 350 6 390 7 420 Refer to Table 17-1. Suppose the output price is$3. If the wage rate is \$90, what is the profit-maximizing quantity of labor that the firm should hire?

7 units

5 units

4 units

3 units

Question 2.

Firms use information on labor's marginal revenue product to determine

how many workers to hire at each wage rate.

how much labor services to supply at each wage rate.

how much to produce at each output price.

how much marginal product to produce at each wage rate.

 all is normal
wrote...
A week ago
 Answer 17 unitsAnswer 2how many workers to hire at each wage rate.
wrote...
A week ago
 This helped my grade so much
 all is normal
wrote...
A week ago
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