The change in a firm's revenue as a result of hiring one more worker
A) is equal to the firm's marginal cost.
B) will be negative if the demand for the firm's output is inelastic.
C) is the definition of the marginal revenue product of labor.
D) is the definition of the marginal product of labor.
C
You might also like to view...
A downward sloping income-demand curve indicates that the good is a necessity.
Answer the following statement true (T) or false (F)
A dominant strategy ________
A) always results in equal payoffs to all the players in a game B) always results in zero payoff to the opponent C) results in a higher payoff irrespective of the strategy chosen by the other player D) always results in a lower payoff irrespective of the strategy chosen by the other player
The benefits of urbanization include: crime, pollution, increased taxation and congestion
Indicate whether the statement is true or false
The above figure shows Bob's utility function. He currently has $100 of wealth, but there is a 50% chance that it could all be stolen. Bob's expected wealth is
A) $0. B) $50. C) $75. D) $100.