When labor is the only input a firm uses, the marginal cost of a unit of output can be defined as the
a. marginal revenue multiplied by the wage.
b. marginal product of labor multiplied by the wage.
c. marginal product of labor divided by the wage.
d. None of the above is correct.
d
Economics
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By raising the discount rate, the Federal Reserve ________ banks from borrowing more reserves
A) short-changes B) prohibits C) discourages D) encourages
Economics
When the economy is on the flatter part of the short run aggregate supply curve, efforts to change inflation with monetary policy will be ____ successful and efforts to stimulate the economy will be ____ successful
a. More; more b. More; less c. Less; more d. Less; less
Economics