Multiple Choice
If the wage rate paid to a textile employee is $150 and the marginal product of a worker is 225 yards of fabric, this means that for each additional dollar spent on labor, there is a gain of________ yards of fabric.
A) 5
B) 0.67
C) 3
D) 1.5
Correct Answer:
Verified
Related Questions
Q31: It is not possible for the marginal
Q32: If the cost of capital is $80
Q33: Firms typically experience decreasing marginal returns to
Q34: Q35: Q37: The marginal product of capital is equal Q38: When a firm hires an additional worker, 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![]()
![]()