In: Economics
13 Refer to the following table:
Number of workers |
Output |
Marginal Product of Labor |
Value of Marginal Product of Labor |
Wage |
Marginal Profit |
0 |
0 |
-- |
-- |
$300 |
-- |
1 |
300 |
300 |
$600 |
$300 |
$300 |
2 |
500 |
200 |
AA |
$300 |
$100 |
3 |
600 |
100 |
$200 |
$300 |
BB |
4 |
650 |
CC |
DD |
$300 |
- $200 |
13.1. |
Problem Set #7 - Part II - 13.1 (A) What is the value for the cell labeled AA? |
A. $300 | ||
B. $600 | ||
C. $400 | ||
D. $500 | ||
E. $200 |
13.2. |
Problem Set #7 - Part II - 13.2 (B) What is the value for the cell labeled BB? |
A. $300 | ||
B. $-100 | ||
C. $0 | ||
D. $100 | ||
E. $200 |
13.3. |
Problem Set #7 - Part II - 13.3 (C) What is the value for the cell labeled CC? |
A. 650 | ||
B. 0 | ||
C. 600 | ||
D. 50 | ||
E. 100 |
13.4. |
Problem Set #7 - Part II - 13.4 (D) What is the value for the cell labeled DD? |
A. $0 | ||
B. $100 | ||
C. $50 | ||
D. -$100 | ||
E. $300 |