Multiple Choice
When a competitive firm hired nine workers,its profits were $100.When it hired 10 workers,its output went from 9 to 11 units.Each unit of output sold for $10 while the wage of each worker was $12.What is the firm's new profit level?
A) $20
B) $8
C) $108
D) $12
Correct Answer:
Verified
Correct Answer:
Verified
Q24: Employee subsidies will be most effective at
Q25: Most of a payroll tax is eventually
Q26: Diminishing marginal returns occur because<br>A) hiring more
Q27: Other things being equal,how does the labor
Q28: A worker's hourly wage is $25 and
Q30: In constructing a model of firm-level labor
Q31: If two inputs are complements in production,<br>A)
Q32: A competitive firm uses two inputs: capital
Q33: An employer who is a monopolist in
Q34: The marginal income associated with a unit