A firm should hire more labor when the marginal revenue product of labor
A) equals the wage rate.
B) exceeds the wage rate.
C) is less than the wage rate.
D) Any of these can be true.
E) None of these are true.
B
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College graduates will earn over $1,000,000 more on average than high school dropouts before retiring
Indicate whether the statement is true or false
Suppose there are 100 firms in an industry. If the leading firm has a 50 percent market share, the second largest firm has a market share of half the leader's, the third has a market share of half the second's, and the fourth largest has a market share of half the third's, what is the four-firm concentration ratio?
a. 6.25 percent b. 100.00 percent c. 75.50 percent d. 93.75 percent e. 99.75 percent
Suppose the cost to erect a tornado siren in a small town is $15,000 . In addition, suppose the value of a human life is $10 million. By what percentage would the siren need to reduce the risk of a fatality for the benefits of the siren to exceed the costs of the siren?
a. By at least 0.015 percentage points. b. By at least 0.15 percentage points. c. By at least 1.5 percentage points. d. By at least 5 percentage points.
In 2013, XYZ Corporation had total earnings of $500 million and XYZ retained 20 percent of its earnings for future investments. If the price of a share of XYZ stock is $70 and if 100 million shares of its stock is outstanding, then what is the price-earnings ratio?
a. 6.25 b. 11.2 c. 14.0 d. 17.5