Value of Marginal Product of Labor

The social value of the extra output by additional units of labor is: (1) marginal revenue product of labor. (2) price of labor. (3) average revenue product of labor. (4) value of the marginal product of labor. (5) marginal resource cost of labor.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

View Complete Question

Related Questions in Managerial Economics

Q : Dependency of labor supplies Labor

Labor supplies depend on wage rates and also: (w) labor force participation and capital availability. (x) worker skills and preferences regarding employment. (y) technology and the price of output. (z) labor force participation and derived demand.

Q : Explain the Price Elasticity of Demand

Explain the Price Elasticity of Demand.

Q : Very high fixed costs in contestable

A market is improbable to be contestable when entry needs new firms to incur very high: (w) variable costs. (x) fixed costs. (y) principal-agent problems. (z) marginal costs. I need a good answer on the topic of Economics <

Q : Illustrates the Objectives of

Illustrates the Objectives of managerial economics?

Q : Determine shape of total revenue curve

Within a graph along with output on the horizontal axis and whole revenue on the vertical axis, determine the shape of the total revenue curve for a perfectly competitive seller: w) U-shaped. x) inverted U-shaped. y) a horizontal line

Q : Aggregate Supply of Labor Labor

Labor supplies for the economy as an entire are LEAST determined through: (w) labor unions. (x) wage rates and structures of wages. (y) education and training of the work force. (z) labor force participation rates. Hey friends plea

Q : Decreases in derived demands Decreases

Decreases in derived demands are best demonstrated while: (1) illegal aliens reduce equilibrium wage rates for unskilled workers. (2) swim suit sales plummet at the ends of summer vacations. (3) undocumented construction workers begin leaving the Unit

Discover Q & A

Leading Solution Library

Avail More Than 1452834 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1937748
Asked

3,689

Active Tutors

1452834

Questions
Answered

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

Submit Assignment