Refer to the below table and information. What is the marginal labor cost of the fourth worker?
In the table below, a monopsonist has the marginal-revenue-product schedule for labor given in columns 1 and 2, and the supply schedule for labor is given by columns 1 and 3.
A. $13
B. $15
C. $17
D. $19
B. $15
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The NAAQS
a. are set using benefit-cost analysis b. are established using a benefit-based decision rule c. achieve efficient levels of abatement for the criteria pollutants d. both (a) and (c) are correct
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.
Figure 17.1 depicts a firm's marginal revenue product curve. If the product price decreases, the marginal revenue product curve:
A. shifts downward. B. shifts upward. C. remains the same. D. None of these
When a firm pays a wage that is higher than the market wage in order to increase worker? productivity, the wage is called
What will be an ideal response?