User Account

All Pages

The extra output of extra worker

Assignment Help Microeconomics
Reference no: EM13306427

1. the firm's gain in profit from hiring another worker is

A.the extra output of extra worker.

B. the difference between marginal revenue product and the wage of worker.

C. the marginal revenue product of the extra worker.

D. the reduction in costs from hiring another worker.

2. If a worker can produce 20 units of output which can be sold $4 per unit, what is the maximum wage that firm should pay to hire this worker?

A it depends on what the going wage rate is in the labor market.

B $80 minus the firm's profit markup

C $80

D there is insufficient information to answer the question.

3. An increase in a perfectly competitive firm's demand for labor could be caused by

A a decrease in the marginal product of workers.

B a decrease in the market wage rate.

C an increase in the market demand for the firm's product.

D an increase in the quantity of labor supplied.

4. which of the following will not cause the labor demand curve to shift to the right?

A. an increase in human capital in the labor force.

B an increase in the market wage rate.

C an increase in the price of the firm's product

D a technological improvement that increases labor productivity.

5. at low wages, the labor supply curve for most people slopes upward because

A the demand for labor is perfectly elastic at low wages.

B as wages increase the opportunity cost of leisure increases.

C as wages increase income also increases unless hours worked decrease.

D the supply of labor is perfectly inelastic at low wages.

Reference no: EM13306427

Questions Cloud

Create a document with two vertical frames : create a document with two vertical frames. create a series of links in the left frame. each button should represent a country and the right frame point to a source for that countries stats.
Calculate the flow rate imprted by the impeller : A six bladed rushton turbine 2.0m in diameter rotating at 25 rev/min in a tank 4m deep, water temperature= 10 degree celcius. For this flocculation system calculate the following: a) Reynolds number
Technology is revolutionising global business : Technology is revolutionising global business.
Calculate the overflow rate based on area and daily flow : Treatment plant was designed for 9 MGD. It is currently processing 13 MGD. Your task is to assess the expected treatment performance of the primary clarifiers. There are two clarifiers 45 feet in diameter.
The extra output of extra worker : If a worker can produce 20 units of output which can be sold $4 per unit, what is the maximum wage that firm should pay to hire this worker?
Write assembly language program that prints your first name : Write an assembly language program that prints your first name on the screen. Use the .ASCII pseudo-op to store characters at the bottom of your program. Use the CHARO instruction to output characters.
What is the distance of the slit to the screen : In an experiment, light of wavelength 600 nm falls on two slits which are spaced at a distance of .5 mm. What is the distance of the slit to the screen
What is expected behavior in charpy impact energy testing : Two identical alloy specimens are being evaluated for use in a new fuel rod design. One sample was exposed to a fast neutron flux of 9 X 10^23 neutrons/(cm2*sec) at a temperature of 323°K for six weeks in a test reactor.
How many clock cycles are needed : Indicate data dependency in the code below. Assuming there is no forwarding in the pipeline, howmany clock cycles are needed to finish the program? If full forwarding is used, how many clock cycles are needed?

Reviews

Write a Review

Microeconomics Questions & Answers

  Substantially lessen competition to create a monopoly

Describe the phenomenon of market foreclosure. Specifically, describe how a vertical merger may "substantially lessen competition or tend to create a monopoly" through virtue of market foreclosure.

  Determine effect on optimal price

The United States cigarette industry has negotiated with Congress and government agencies to settle liability claims against it. Under the proposed settlement, cigarette firms will make fixed yearly payments to government based on their historic mark..

  Determine the industry supply curve

Assume the normal production process for beet sugar uses high sulfur oil for fuel and releases two units of sulfur dioxide to the air for every ton of beet sugar manufactured.

  Explain what the rate of money growth should equal

At times, people will suggest that the Fed should try and achieve an inflation rate of zero percent. If we assume that velocity is constant, does this goal of zero inflation require that the rate of money growth equal zero.

  Explain math and science tutoring services

If the Online Tutoring decides to sell its tutoring services individually, what should it charge for math tutoring? What should it charge for science tutoring?

  Why is the shutdown point not a hard and fast rule

2) Why is the shutdown point not a hard and fast rule of MR=MC=AVC 3) Why does the government's desire to not provide health care at certain points maybe economically rational and dangerous Explain.

  Differences between fixed and variable taxes

Assume that the government decreases spending by one hundred billion dollar. What happens to aggregate demand and discuss the differences between fixed and variable taxes.

  Calculate the profit that the manager

The manager of EverClean finds two output levels that appear to be optimal. Show what these levels of output are, and explain which one is actually optimal.

  Explain the effects in the markets for corn

ethanol is a motor fuel manufactured from corn, barley, or wheat, and it can be used to power the engines of many autos and trucks. suppose that the government decided to probide a large per-unit subsidy to ethanol producers.

  What is the optimal strategy for the monopolist

This price reduction would also increase sales to 220,000 units during the relevant years. a) Make the decision tree. b) What is the optimal strategy for the monopolist?

  Does the production function exhibit diminishing returns

Show the change in Q if L changes from 1 to 2, and 2 to 3, and does the production function exhibit diminishing returns? If so, when does the law of diminishing returns begin to operate? Could we ever get negative returns?

  Compare the adjustment process to the new equilibrium

The firms and workers in Alpha form expectations adaptively. The firms and workers in Omega form expectations rationally. Their otherwise identical economies are initially in equilibrium at the natural level of output with 10 percent inflation.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd