Doug's Dog Grooming is a perfectly competitive firm charging $5 per dog grooming
Doug's Dog Grooming has the total and marginal product of labor schedules in the above table and can hire workers from a perfectly competitive labor market for $15 per hour. What is the value of marginal product of the third worker? A) $5
B) $25
C) $15
D) $375
B
Economics
You might also like to view...
Exporting nations often agree to voluntary export restraints in an attempt to
A) decrease inflation. B) increase global welfare. C) avoid more restrictive trade policies. D) employ more workers in the importing nation.
Economics
A consumer maximizes utility when she consumes at a point where?
A. ?the marginal utility of each good is the same. B. ?the marginal utility per dollar spent on each good is the same. C. ?the price of each good is the same. D. ?All of the above statements are true.
Economics