Essay heading: 9422 Plus Answes

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Business

 

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August 6, 2002

 

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A profit-maximizing firm's daily total revenue is $155 with 3 workers, $200 with 4 workers, and $250 with 5 workers. The marginal cost of each worker is $60 per day. The firm should: A) hire a fifth worker. C) hire more than five workers. B) hire four workers. D) none of the above. Answer: D 8. Why do skilled workers generally earn more than unskilled workers? A) The demand for unskilled labor is more inelastic than the demand for skilled labor...
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D) none of the above. Answer: D 8. Why do skilled workers generally earn more than unskilled workers? A) The demand for unskilled labor is more inelastic than the demand for skilled labor. B) Skilled labor has higher marginal revenue products than unskilled labor. C) The demand for unskilled labor is greater than the demand for skilled labor...
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