A firm produces 4,000 units of output using 500 workers. Marginal cost is $10, the wage rate is $160, and total fixed cost is $100,000.What is the marginal product of labor?
A. 8 units of output per worker
B. $16 per worker
C. $8 per worker
D. 16 units of output per worker
E. none of the above
Answer: D
Economics
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In the United States there were legal reserve requirements on time and savings deposits during most of the post-World War II period. Therefore, the money multiplier for the M1 definition was
a. smaller when time and saving deposits increased. b. smaller when time and saving deposits were assumed to be fixed. c. larger when time and saving deposits increased. d. smaller when time and saving deposits decreased.
Economics
In 2014 income per person in the United States was about 10 times that in India
a. True b. False Indicate whether the statement is true or false
Economics