Business

4 August, 01:59

When a good is sold in a perfectly competitive market, the marginal revenue product of labor used to make that good can be computed by:

a. multiplying the price of the output by the wage paid to labor.

b. multiplying the price of the output by the marginal product of labor.

c. multiplying the wage paid to labor by the marginal product of labor.

d. multiplying the price of the output by the total product of labor.

e. dividing the marginal product of labor by the price of the output.

+5

Answers (1)

Know the Answer?

Not Sure About the Answer?

Find an answer to your question 👍 “When a good is sold in a perfectly competitive market, the marginal revenue product of labor used to make that good can be computed by: a. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.

Search for Other Answers

You Might be Interested in

Manufacturing costs from a scraped poor-quality product are $6000 per year. AN investment in an employee training program can reduce this cost. Program A reduces the cost by 75% and requires an investment of $12,000.

The student center on campus has burritos, bagels, or burgers for lunch, and they all cost the same. you decide to have a burger today, but if they were out of burgers, you would have bought a bagel.

Ben and Jerry are managers at the company, and they have this discussion: Ben : We should produce 4,000 lamps per month because that will minimize our average costs.

Shortly after you purchase the laptop, you receive your first credit card bill and forget to pay it, because it's a new responsibility for you.

Alpha Company uses its sales invoices for posting perpetual inventory records. Inadequate control activities over the invoicing function allow goods to be invoiced that are not shipped.

New Questions in Business

Hannah Roberts owns and operates Hannah's Pool Service Company. On January 1, Hannah Roberts, Capital had a balance of $309,170. During the year, Hannah invested an additional $22,040 and withdrew $39,010.

Q: Lisa sells 10 bottles of homemade ketchup for $10 each. The cost of the ingredients, the bottles, and the labels was $70. In addition, it took her 2 hours to make the ketchup and to do so she took time off from a job that paid her $10 per hour.

The following information was available to the accountant of Scarlet Co. when preparing the monthly bank reconciliation: Cash balance per bank statement $ 1,115 Cash balance per books (prior to reconciliation) 842 Outstanding check #643 642

Your business plan is a

Coupons and sales are frequently used marketing tactics for which form of competition?