Multiple Choice
A pizza shop's marginal product of labor, measured as the number of pizzas delivered per week, is MPL = 55 - 5L, where L is the number of workers. The average price of a pizza in this highly competitive market is $10. The shop can hire workers at the market wage of $300 per week. There is a diminishing marginal product of labor when worker number ____ is hired.
A) 2
B) 3
C) 4
D) 5
Correct Answer:

Verified
Correct Answer:
Verified
Q71: (Figure: Labor Union Wages I) The figure
Q72: A pizza shop's marginal product of labor,
Q73: A monopsony has a marginal revenue product
Q74: A backward-bending labor supply curve occurs when:<br>A)
Q75: Which of the following is NOT a
Q77: Table (Baristas Labor I). Suppose that the
Q78: For a given labor demand curve, which
Q79: (Figure: Budget Constraint for Work or Leisure
Q80: (Figure: Monopsony Employment I) A price taker
Q81: Assume that the labor market is in