The marginal factor cost is the
A) additional revenue obtained from a one-unit change in labor input.
B) additional revenue obtained from a one-unit change in output.
C) change in output resulting from the addition of one more worker.
D) cost of using an additional unit of an input.
D
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In the period 1960–95,
(a) the relations between capital and labor (owners and workers) continued to be as hostile and violent as they were in the 1930s and earlier. (b) the relations between capital and labor (owners and workers) continued to be cooperative and peaceful, as they had been throughout U.S. history. (c) an accord was struck which involved more cooperative relations between capital and labor and encouraged high rates of productivity in industry. (d) the federal government intervened with a strong hand to ensure that labor and capital worked together cooperatively.
A perfectly elastic supply curve is
A) an upward sloping straight line that intersects the origin. B) horizontal. C) vertical. D) downward sloping.