--%>

Wage Rates and Marginal Resource Costs

Can someone please help me in finding out the accurate answer from the following question. When a firm is the price taker in labor market and the salary is $80 per day, then the marginal resource cost incurred if hiring 20 more workers per day is as: (i) $1600. (ii) $80. (iii) $800. (iv) $400.

   Related Questions in Microeconomics

  • Q : Operating the economy of production

    I have a problem in economics on the topic of Production. Please help me in the following question. The economy operating on its production possibilities frontier is as: (1) At full employment. (2) Technologically proficient. (3) Maximizing the output

  • Q : Maximized output level and zero

    When all production costs for a monopoly are fixed [MC =0], in that case economic profit: (i) falls when price is raised in the inelastic range of a demand curve. (ii) rises when price is cut in the inelastic range of

  • Q : Explain about term market failure The

    The phrase "market failure" refers to: (w) the failure of market economies to deal with social problems. (x) the Stock Market Crash of 1929. (y) cases where supplies and demands within private markets yield inefficiency, excessive or inequity instabil

  • Q : Effects of price in Complementary Goods

    The demands for vast new sport utility vehicles [or SUVs] like Hummers and Ford Explorers would most likely reduce most sharply in response to a 50%: (i) Rise in the annual cost of driver’s license. (ii) Decreasing in rent on luxury apartments on the center of b

  • Q : Problem on Resource Costs Can someone

    Can someone help me in finding out the precise answer from the given options. A raise in the cost of resource inputs would lead to the: (1) Shift of the supply curve to right. (2) Shift of the supply curve to left. (3) Movement upward all along the su

  • Q : Long-run competitive pressures in

    When economic losses are widespread within a purely competitive industry, in that case long-run competitive pressures tend to cause: (i) accelerating economic losses. (ii) prices to fall while firms leave the industry. (iii) productio

  • Q : No close substitutes in monopoly When

    When Perpetual Motion Corporation’s recently-invented and patented teleporter buttons have no close substitutes, in that case Perpetual Motion operates: (1) along with absolute certainty of realizing a pure economic profit. (2) in violation of the laws of demand

  • Q : Definition of Featherbedding Can

    Can someone help me in finding out the right answer from the given options. The Featherbedding is: (i) Practiced by the migratory ducks and geese merely. (ii) Practiced by the female song birds each and every spring. (iii) Rousingly substituted by the water-bedding. (

  • Q : Purely-competitive long-run equilibrium

    The typical firm produces in a purely-competitive long-run equilibrium where price equals as: (1) short-run average cost. (2) marginal cost. (3) long-run average cost. (4) average revenue per unit. (5) All of the above.

    Q : Determine total costs by

    Hey guys I need your idea for this query regarding the total costs as illustrated graph that this profit-maximizing pure competitor’s total cost (TC) equals area as: (w) 0Phq2. (x) 0bgq2. (y) 0aeq1. (z) daef.

    Discover Q & A

    Leading Solution Library
    Avail More Than 1437575 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads
    No hassle, Instant Access
    Start Discovering

    18,76,764

    1932506
    Asked

    3,689

    Active Tutors

    1437575

    Questions
    Answered

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

    Submit Assignment

    ©TutorsGlobe All rights reserved 2022-2023.