Marginal labour cost is
A) identical to the wage rate.
B) labour cost divided by the number of workers.
C) the extra labour cost associated with hiring an extra worker.
D) less than the value of marginal product.
E) less than the wage rate.
Correct Answer:
Verified
Q29: The marginal product of the 14th worker
Q30: The last worker hired at a competitive
Q31: Marginal product is a measure of the
Q32: Monopsony is a
A) market structure with a
Q33: A monopsonist is able to
A) pay the
Q35: In many cases,labour represents 70% of all
Q36: The value of marginal product for the
Q37: In order to maximize its profit,or minimize
Q38: To a perfectly competitive firm in the
Q39: Monopsony and monopoly are similar in that
A)
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