Refer to the above table. If the price of the product is $1.50, what is the marginal revenue product of the 11th worker?

Why does increasing employment not necessarily increase living standards?

a. Productivity always increases as employment increases. b. Living standards and employment are always positively related. c. Increasing employment may not be accompanied by higher real wages d. There is no upper limit to labor force participation. e. Real wages are not adjusted for inflation.

A survey in a particular city reveals that a majority of the retired workforce, aged between 60 years and 70 years, is returning to work to meet certain financial constraints. Other things constant, this is likely to: a. cause an upward movement along the labor supply curve. b. shift the supply curve of labor rightward

c. cause a downward movement along the labor supply curve. d. shift the supply curve of labor leftward.