If a firm hires 312 workers it produces 4522 computers if, Ask an Expert

Economics

If a firm hires 312 workers it produces 4,522 computers. If it hires 313 workers it produces 4,786 computers. If computers sell at a constant price of $1 and labor is hired at a constant wage rate of $65 per worker:

A. the marginal factor cost of labor is $65.

B. the firm should hire and retain the additional worker.

C. the marginal revenue product of the added worker is $264.

D. all of the above

E. the additional employee brings into the firm a NET revenue of $112.

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91234618

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question the following variant of the lets make a deal game

Question: the following variant of the Let's Make a Deal game. Again one of the three boxes contains a prize, but now there are two players, 1 and 2. Assume Player 1 picks Box A and Player 2 picks Box B. The host (who ag ...

Question 1 explain modern-sector enrichment and its effect

Question: 1) Explain modern-sector enrichment and its effect on inequality 2) Explain the traditional sector enrichment and its effect on inequality. 3) Explain the difference between the size distribution of income and ...

Question consider a drivers decision regarding how fast to

Question: Consider a driver's decision regarding how fast to drive. In particular, suppose that for this driver, the benefit (ins) of driving x miles per hour (mph) above the speed limit usually is B(x) = 63x - 2x^3. Als ...

Question following are some compounding and discounting

Question: Following are some compounding and discounting problems: a. Say $177 grows to $189 over a year at simple interest, that is, one annual payment and no compounding within the year. What is the implied interest ra ...

Question the following diagram shows the market situation

Question: The following diagram shows the market situation for the perfectly competitive market for wheat. The wheat market is currently at short-run equilibrium E, where the price P* is not high enough to generate posit ...

Question a bond has a face value of 1000 with maturity date

Question: A bond has a face value of $1,000 with maturity date 20 years from today. The bond pays interest semiannually at a rate of 8% per year based on the face value. If the current rate of similar bonds is 6%, what i ...

Question suppose a market with the following production

Question: Suppose a market with the following production function F(K, L) = (K - 1) 1 4L 1 4 . Consider the wage w = 1 and the capital return r = 4. Suppose in the short run K = 2. a) What is the demand for labor in the ...

Question one consequence of increases in business

Question: One consequence of increases in business litigation over the past 20 years has been an increase in the percentage of lawyers who work as employees of firms rather than as independent practitioners. Explain why ...

Question the cost of maintaining a new care is estimated at

Question: The cost of maintaining a new care is estimated at $295 the first year and to increase by $50 each year thereafter. How much should be set aside for maintenance, if the car is to be kept 10 years and if the mon ...

Question most supermarkets today are staffed by employees

Question: Most supermarkets today are staffed by employees of a chain like Kroger. Piggly Wiggly and IGA, however, operate under franchise agreements with independent owners. Why are franchised supermarkets rare relative ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert