Francis Crawford recently received a 20 percent wage increase and desires to work less. We can conclude that at his current wage his supply of labor curve

Assume that a health spa can earn an additional $35,000 of revenue each year from advertising every day in a local newspaper. What must the additional cost of this daily advertising be to make this advertising economically rational?

What will be an ideal response?

Marginal resource cost is:

  A.  The increase in a firm's total cost caused by hiring one additional unit of an input B.  A firm's cost of hiring one group of inputs, such as capital or labor C.  The firm's demand curve for a productive resource D.  Determined by the marginal physical product schedule for an input