Social Welfare and Value of Marginal Product of Labor

I have a problem in economics on Social Welfare and Value of Marginal Product of Labor. Please help me in the following question. The social value of additional output from the additional units of labor is: (i) Marginal revenue of the product of labor. (ii) Price of the labor. (iii) Average revenue product of the labor. (iv) Value of the marginal product of labor. (v) Marginal resource cost of the labor.

Select the rightmost option.

View Complete Question

Related Questions in Microeconomics

Q : Wage Discrimination and Social Welfare

The sum up of monopsonistic exploitation by the firm raises however the firm as well operates at a more socially and economically proficient level of output and employment whenever the firm is capable to engage in: (i) Blacklisting in its hiring of the labor. (ii) Yel

Q : Question based on production

In drawing the production possibilities curve we assume that: 1) technology is fixed. 2) unemployment exists. 3) economic resources are unlimited. 4) wants are limited.

Q : Marginal social benefit and costs under

Under pure competition, there is marginal social benefit will equivalent marginal social cost unless: (w) “hit and run” entrepreneurs prosper. (x) economic profits are zero. (y) there are externalities. (z) entrepreneurs a

Q : Relative Prices of household

When a household consumes just x and y, a higher price of y and the stable price of x will make: (i) All goods cheaper relative to the x. (ii) x cheaper relative to the y. (iii) Real family income grow. (iv) Substitution against x the more desirable.

Q : Estimate federal poverty rate The

The federal poverty rate computed by the Bureau of the Census is the: (w) ratio of poverty income to the average income. (x) number of persons below the poverty line. (y) percentage of persons below the poverty line. (z) official defi

Q : Econ Give the answer of following

Give the answer of following question. In the quintile distribution of income, the term "quintile" represents: A) 5 percent of the income receivers. B) 10 percent of the income receivers. C) 20 percent of the income receivers. D) 25 percent of the income receivers.

Q : Help economics !! The market system's

The market system's answer to the fundamental question "Who will get the goods and services?" is essentially: 1) "Those willing and able to pay for them." 2) "Those who physically produced them." 3) "Those who most need them." 4) "Those who get utility from them."

Q : Consumer demands-technologies used by

Consumer demands for the caviar are least possible to change in response to modifications in: (1) Technologies utilized by workers who harvest caviar. (2) Government taxes or subsidies on the caviar. (3) Prices for other delicacies people eat on the festive occasions.

Q : Define primary deficit Primary deficit

Primary deficit: Primary deficit is the difference among fiscal deficit and interest payments prepared by the government Primary deficit = Fiscal deficit – Interest payments

Q : Unitarily price elastic supply for

Supply is unitarily price elastic for all quantities and prices upon: (i) supply curve S1. (ii) supply curve S2. (iii) supply curve S3. (iv) supply curve S4. (v) supply curve S5.

Discover Q & A

Leading Solution Library

Avail More Than 1425113 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1949659
Asked

3,689

Active Tutors

1425113

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment