Top Posters
Since Sunday
s
3
3
d
3
s
2
c
2
G
2
y
2
t
2
2
k
2
j
2
e
2
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
ahyukj ahyukj
wrote...
Go to Answer
Posts: 141
Rep: 0 0
9 months ago

When firm A hires one worker it pays $10 an hour and its total labor cost is $10. When it hires a second worker, it has to pay $11 to each of its two workers and its total labor cost is $22. When it hires a third worker, it has to pay $12 to each of its three workers and its total labor cost is $36. For firm A,



▸

its marginal factor cost is greater than the wage rate it pays, except for the first worker it hires.



▸

its marginal factor cost is greater than the wage rate it pays, except for the first two workers it hires.



▸

its supply curve of labor lies above its marginal factor cost curve.



▸

it is likely that marginal revenue product is always greater than marginal factor cost.



▸

none of the above

Textbook 
Economics

Economics


Edition: 12th
Author:
Read 38 times
1 Reply
Replies
Answer verified by a subject expert
jchang19jchang19
wrote...
#1
Posts: 135
Rep: 0 0
9 months ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

ahyukj Author
wrote...

9 months ago
You make an excellent tutor!
Evolution
wrote...

Yesterday
Thanks for your help!!
gma_of_7
wrote...

2 hours ago
This calls for a celebration Person Raising Both Hands in Celebration
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  807 People Browsing
 114 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 374
  
 1211
  
 317
Your Opinion
Who will win the 2024 president election?
Votes: 10
Closes: November 4
Previous poll results: What's your favorite funny biology word?