For Elliot's Dog-Walking Service, the Only Variable Input Is Labor

question 295

Multiple Choice

For Elliot's dog-walking service, the only variable input is labor. Elliot's labor costs are $300 a day and his service walks 30 dogs per day. To walk 31 dogs per day, his labor costs increase to $305 a day. The marginal cost of walking that 31st dog is

• A) $5.
• B) $9.83.
• C) $19.52.
• D) indeterminate from the information given.

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Definitions:

Industrial Workers

Individuals employed in sectors concerned with producing goods through physical labor and machinery, often in factories or production lines.

Critical Industrial Relations

The examination of labor relationships, focusing on power dynamics, conflict resolution, and the impact of external factors.

Collective Bargaining

A process where employers and employees negotiate wages, hours, and working conditions through their representatives.

Threat of Strikes

The potential action of workers stopping work as a form of protest or to demand improved conditions or wages, used as leverage in negotiations.