Doug's Dog Grooming is a perfectly competitive firm charging $5 per dog grooming
Doug's Dog Grooming has the total and marginal product of labor schedules in the above table and can hire workers from a perfectly competitive labor market for $15 per hour. What is the value of marginal product of the third worker? A) $5
B) $25
C) $15
D) $375
B
You might also like to view...
The following table provides information about production at the XYZ-TV Company.Number of WorkersTVs ProducedMarginal ProductValue of Marginal Product00------13535$35,00026833$33,00039931$31,000412829$29,000515527$27,000How many workers will XYZ-TV Company hire if the going wage for TV production workers is $32,000?
A. 0 B. 1 C. 2 D. 3
Most of the U.S. public debt is owed to the nation's citizens and domestic institutions. This is one reason that the public debt
A. crowds out private investment. B. has a procyclical economic effect on the economy. C. does not impose a large burden on future generations. D. can result in the bankruptcy of the Federal government.
A corporate bond is issued when a corporation ____________ and promises to pay ____________
a. sells stocks; future profit b. sells stocks; agreed upon interest c. sells common shares; future profit d. borrows money; the principal and interest e. lends money; the principal and interest
Engaging in any activity using any? resource, even? time, involves trading off the use of that resource for one or more alternative uses.
a. true b. false