You are the manager of a firm producing green chalk. The marginal product of labor is:
MPL = 24L - 1/2
Suppose that the firm is a competitor in the green chalk market. The price of green chalk is $1 per unit. Further suppose that the firm is a competitor in the labor market. The wage rate is $12.00 per hour.
Given the information, what is the revenue product of labor?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You are the manager of a firm producing green chalk. The marginal product of labor is: MPL = 24L - 1/2 Suppose that the firm is a ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Jonathan made his career planning timeline in 2009. In what year should Jonathan's timeline start? A. 2010 B. 2009 C. 2012 D. 2011 2b2t
Answers (1)
What do you need to provide in order to get secured credit? A. co-signer B. credit card C. tax refund D. asset
Answers (1)
The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,470,000, $154,000 in the common stock account and $2,790,000 in the additional paid-in surplus account.
Answers (1)
At January 1, 2013, Simpson Co. had a credit balance of $260,000 in its allowance for uncollectible accounts. Based onpast experience. 2 percent of Simpson's credit sales have been uncollectible. During 2013. Simpson wrote off 5325.
Answers (1)
Levered, Inc., and Unlevered, Inc., are identical in every way except their capital structures. Each company expects to earn $29.3 million before interest per year in perpetuity, with each company distributing all its earnings as dividends.
Answers (1)
New Questions in Business
Madison's gross tax liability is $9,000. Madison had $3,000 of tax credits available and she had $8,000 of taxes withheld by her employer. What is Madison's taxes due (or taxes refunded) with her tax return? $0 taxes due and $0 tax refund.
Answers (1)
In perfect competition A. the market demand curve and the individual's demand curve are identical. B. the market demand curve is perfectly inelastic while demand for an individual seller's product is perfectly elastic. C.
Answers (1)
With regard to how people use time and their expectations of how it should be managed, members of which type of culture value efficiency production and fast results?
Answers (1)
How would u approach a fellow co-worker consistently does not perform hand-hygiene when it is indicated or appropriate.
Answers (1)
Which of the following statements is FALSE? A. The effective annual rate indicates the amount of interest that will be earned at the end of the year. B. The annual percentage rate indicates the amount of simple interest earned in one year. C.
Answers (1)