Value of Marginal Product, The social value of additional output from the additional

+44 141 628 6080
[email protected]

Value of Marginal Product

The social value of additional output from the additional units of labor is as: (1) Marginal revenue product [or MRP] of labor. (2) Wage rate or price of the labor. (3) Average revenue product [or ARP] of labor. (4) Value of marginal product [or VMP] of labor. (5) Marginal [or resource] factor cost of labor.

Find out the right answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Determine the relationship among APC

Determine the relationship among APC and APS? Answer: APC + APS = 1.

Q : Standard categories of economic

Standard categories of economic discrimination which tend to make income less equally distributed do not comprise: (1) wage discrimination (2) employment discrimination (3) occupational discrimination (4) human capital discrimination (5) income discri

Q : Problem on Supply of Labor Can someone

Can someone help me in finding out the right answer from the given options. The time in which people are willing and capable to work at different wage rates throughout a specific period is termed as the: (1) Labor force participation rate. (2) Supply of labor. (3) Mar

Q : Income elasticity of demand when

When average income rises from $18,000 to $22,000 yearly and yearly gasoline consumption per household increases from 1000 to 1500 gallons, in that case the income elasticity of demand for gas is: (1) in the inferior range. (2) 0.5. (

Q : Best illustration of an oligopoly The

The best illustration of an oligopoly is: (1) guaranteed next-day delivery of packages and mail. (2) cranberry production. (3) all the local electric utility companies in New England. (4) the United Autoworkers [UAW] union. (5) Wal-Mart.

Q : Discounted present value of future net

A fundamental principle of finance is that the value of any of investment is: (w) the discounted present value of all future net cash flows expected by the investment. (x) negatively related to the future net cash flows generated from the investment. (y) the sum of al

Q : Problem regarding labor monopsonist The

The labor monopsonist will hire labor up to the point where the marginal: (1) Revenue product of the labor equivalents the wage. (2) Resource cost of labor equivalents the salary. (3) Revenue product of labor equivalents its marginal resource cost. (4) Resource cost o

Q : Labor Union History problem Can someone

Can someone please help me in finding out the accurate answer from the following question. The labor unions have tended to be most successful in the organizing: (1) Blue collar workers. (2) Clerical workers. (3) Professionals. (4) White collar workers.

Q : Effect of future consumption on

When households become increasingly willing to defer current consumption in order that they can enjoy greater future consumption, in that case the: (1) interest rate rises. (2) equilibrium investment level rises. (3) present value of

Q : Supply of good at market price When

When producers become willing and capable to sell more of a good at each and every market price, then there has been a raise in: (1) Consumer preferences. (2) Supply. (3) Quantity supplied. (4) Demand. (5) Capitalists’ profits.

Discover Q & A

Leading Solution Library

Avail More Than 1422789 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1943811
Asked

3,689

Active Tutors

1422789

Questions
Answered

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

Submit Assignment