The marginal factor cost of labor is
A) the cost involved in training new workers.
B) the change in total cost that results from employing one more worker.
C) the change in marginal cost that results from selling one more unit of output.
D) total labor employed divided by total sales.
Correct Answer:
Verified
Q1: If a firm employs a new worker,
Q2: We assume that when new workers are
Q4: A firm will not hire a potential
Q5: The demand for labor is
A) identical to
Q6: Firms will hire workers who
A) have a
Q7: The market demand for labor is
A) upward
Q8: Which of the following would increase the
Q9: When wages rise in an industry due
Q10: In a perfectly competitive market, the firm
Q11: The supply of labor to the individual
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