Refer to Figure 8.1. The marginal product of the second worker is ________ lawns moved.572c629de4b0809f2415ac86.png
举一反三
- Refer to Figure 8.1. The lawn mower company's total-product curve shows the following: A: the effects of labor specialization. B: the effects of diminishing returns. C: the effects of labor specialization and diminishing marginal product D: none of the above.
- A firm will hire a worker whenever that worker's marginal product of labor is:() A: greater<br/>than the marginal product of labor for the next best worker. B: less<br/>than the marginal product of labor for the next best worker. C: greater<br/>than the worker's wage. D: less<br/>than the worker's wage.
- Refer to Figure 8.1. The lawn mower company's total-product curve shows the following:
- A competitive,<br/>profit-maximizing firm hires workers up to the point where<br/>the__________ A: marginal<br/>product equals zero. B: marginal<br/>revenue product equals zero. C: marginal<br/>product equals the nominal<br/>wage. D: value<br/>of the marginal product equals the wage.
- If a country began exporting product A and importing product B, then, as compared to the autarky (no-trade) situation, the marginal cost of product A will