A decrease in the marginal product of labor would be represented by a(n):
A. increase in labor demand.
B. decrease in labor demand.
C. increase in the quantity demanded of labor.
D. decrease in the quantity demanded of labor.
Answer: B
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The average product of labor increases as output increases if _______
A. marginal product exceeds average product B. average product exceeds marginal product C. total product increases D. marginal product increases
A firm produces 100 . units per week. It hires 10 full-time workers (40 hours/week) at an hourly wage of $20 . Raw materials are ordered weekly and they costs $5 for every unit produced. The weekly cost of the rent payment for the factory is $1,500 . How do the overall costs breakdown for the week?
a. total variable cost is $5,000 . total fixed cost is $1,500 . total cost is $6,500 b. total variable cost is $5,000 . total fixed cost is $9,500 . total cost is $14,500 c. total variable cost is $13,000 . total fixed cost is $1,500 . total cost is $14,500 d. total variable cost is $13,000 . total fixed cost is $9,500 . total cost is $22,500
In what market type does an individual firm face a perfectly elastic demand curve?
A) perfect competition B) monopolistic competition C) oligopoly D) monopoly
Since 1980, the female/male annual earnings ratio of full-time workers has been ____, while the labor force participation rate of women has been ____ during this same period
a. rising; declining b. rising; increasing c. falling; increasing d. falling; declining