PART 2 Question 1(2 points)

04 Jun PART 2 Question 1(2 points)

Question
PART 2

Question 1(2 points)

Question 1 unsaved

For a perfectly competitive firm, the value of the marginal product of labor falls as more workers are hired because of the diminishing

Question 1 options:

A)

output price.

B)

marginal physical product of labor.

C)

price of labor.

D)

marginal cost of production.

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Question 2(2 points)

Question 2 unsaved

The practice of outsourcing has been given a boost by

Question 2 options:

A)

advances in telecommunications and computer networking.

B)

firms that are becoming more risk-averse.

C)

support from organized labor.

D)

sharp increases in the cost of overseas labor.

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Question 3(2 points)

Question 3 unsaved

https://ccco.desire2learn.com/content/enforced2012/708391-S_CCCO_ECO202C21_201330/ppg/pearson/tm/et16mc/f91g1q57g1.gif?_&d2lSessionVal=uBdh0GpLcMhjU8ZEtGb1l4bbI

Refer to the above table. If the price of the good produced is $7, the marginal revenue product of the 11th worker is

Question 3 options:

A)

$700

B)

$4200

C)

$630

D)

$3500

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Question 4(2 points)

Question 4 unsaved

Ajax Corporation has just decided to let managers work from home one day a week. This decision will make working conditions better and will

Question 4 options:

A)

cause the demand curve for labor for managers to increase.

B)

increase the elasticity of demand for labor for managers.

C)

lead to an increase in the supply curve of labor for managers.

D)

leave the supply curve of labor unchanged.