Multiple Choice
(Table: Value of the Marginal Product of Labor and Demand) In the figure Value of the Marginal Product of Labor and Demand, the total product of labor is shown for the hourly production of power cords.If the price of a power cord is $2, the value of the marginal product for the fifth worker is:
A) $0.
B) $20.
C) $40.
D) $60.
Correct Answer:

Verified
Correct Answer:
Verified
Q10: A lower wage:<br>A) has an income effect
Q70: Consider the labor market for accountants. As
Q109: When a person receives a wage increase,changes
Q220: To maximize profits, a firm will employ
Q221: A firm is in equilibrium when the
Q222: An efficiency wage exists when an employer
Q225: Which of the following is a factor
Q227: Which of the following calculations is correct?<br>A.VMPL
Q228: The factor of production capital includes physical
Q229: Oscar's Flower Shop maximizes profits by hiring