You are the manager of a firm producing green chalk. The marginal product of labor is:
MPL = 24L - 1/2
Suppose that the firm is a competitor in the green chalk market. The price of green chalk is $1 per unit. Further suppose that the firm is a competitor in the labor market. The wage rate is $12.00 per hour.
Given the information, what is the revenue product of labor?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “You are the manager of a firm producing green chalk. The marginal product of labor is: MPL = 24L - 1/2 Suppose that the firm is 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
Which of the following is true?
Answers (1)
You had planned to go out for pizza with your friends Saturday night. You've all gathered at your place but when you're about to leave, it starts to snow heavily, so you decide to have a pizza party at your place.
Answers (1)
If the LRT agency were to buy a two-page ad in Paulding Community magazine for a builder that is planning on constructing a 500-home subdivision in the county, the ad would cost $5,000.
Answers (1)
A machine was purchased at a cost of $52,000. The equipment had an estimated useful life of seven years and a residual value of $3,000.
Answers (1)
Rheingold Supply has a seniority system by which employees who have worked the longest are first in line for promotions and last to be laid off. As a result, most of the senior managers at Rheingold Supply are men.
Answers (1)
New Questions in Business
Dave and betsy have run kozy korner for many years, and from that experience they feel knowledgeable about the most likely threats to the business. however, experience has also taught them that completely unexpected events can happen.
Answers (1)
Firm A and Firm B have the same total assets, ROA and profit margin. However, Frim B has a higher debt ratio and interest expense then Firm A. Which of the following statements is correct? A.) Firm B must have a higher ROE than first A. B.
Answers (1)
You own a portfolio that is 32 percent invested in Stock X, 20 percent invested in Stock Y, and 48 percent invested in Stock Z. The expected returns on these three stocks are 6 percent, 19 percent, and 15 percent, respectively.
Answers (1)
Which of the following statements about knowledge is true? Data and information are the same as knowledge. Knowledge resides in information. Knowledge is the understanding that one gains from information.
Answers (1)
A client with acquired immunodeficiency syndrome (AIDS) develops Pneumocystis carinii pneumonia. Which nursing diagnosis has the highest priority? A. Impaired oral mucous membranes B. Activity intolerance C.
Answers (1)