Suppose That a Competitive Firm Hires Labor Up to the Point

question 439

Multiple Choice

Suppose that a competitive firm hires labor up to the point at which the value of the marginal product equals the wage and that labor is the only input that varies for the firm.If the firm pays a wage of $700 per week and the marginal product of labor equals 20 units per week,then the marginal cost of producing an additional unit of output is

• A) $35.
• B) $70.
• C) $700.
• D) We do not have enough information to answer this question.

Distinguish between concrete and abstract language for clear communication.

Understand the role and types of transitions in structuring documents.

Recognize techniques to emphasize important ideas in a document.

Identify various paragraph development strategies and when to use them.

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Definitions:

Fibrous Connective Tissue

A connective tissue type that is composed of parallel bundles of collagen fibers, providing strength, support, and flexibility to various structures of the body.

Hyaline Cartilage

A type of strong, flexible connective tissue found in various parts of the body such as the joints, nose, and trachea.

Sinuses

Air-filled cavities located in the bones of the skull, which help moisten, warm, and filter the air we breathe.

Flat Bones

Bones with a thin, flattened shape, primarily involved in protection of vital organs and providing broad surfaces for muscle attachment.