If the Value of Marginal Product of the 10th Worker

question 151

Multiple Choice

If the value of marginal product of the 10th worker is $60,then the

• A) quantity of labor demanded when the wage rate is $60 will be 10 workers.
• B) wage rate of the 10th worker will be $6.
• C) firm will not hire the worker if the wage rate is less than $60.
• D) marginal cost of the 10th worker will be $6.
• E) quantity of labor demanded when the wage rate is $6 will be 10 workers.

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Definitions:

Class Conflict

The tension or antagonism which exists in society due to competing socioeconomic interests and desires between people of different classes.

Anarchy

A state of society without government or law, where no person or group holds power, often resulting in disorder and chaos.

Battle Of Lexington And Concord

A series of conflict that marked the beginning of the American Revolutionary War in April 1775, involving British soldiers and American colonial militia in Massachusetts.

Revolutionary War

The conflict between the thirteen American colonies and Great Britain from 1775 to 1783, resulting in the independence of the United States.