2) The U.S and Indian Markets for Computer Technical-Support Services Workers 3)
ID: 1178022 • Letter: 2
Question
2)
The U.S and Indian Markets for Computer Technical-Support Services Workers
3)
Consider a perfectly competitive firm's marginal revenue product of labor curve shown in the diagram.
Using the line drawing tool, draw a new line that shows the effect of a decrease in the demand for the product produced by this fm. Label this line 'MRP1 '.
Note: if you are not prompted for a label you have used the wrong drawing tool.
For the perfectly competitive firm, the marginal revenue product is
4)
A firm that employs labor located outside the country in which it is located engages in:
The following table gives final product price elasticity data for four industries.
Other things equal, the greatest elasticity of demand for labor will be in industry
A perfectly competitive firm faces the marginal product schedule shown above. The price of the product is $$25 and the wage rate is $320 per worker. The marginal revenue product of the 14th worker is
affected by the marginal factor cost of labor.
A firm is minimizing costs of production. The wage rate is $125 per worker, and the relevant price of capital is $500 per unit. The price of the final product is $25, and the marginal product of labor at the cost-minimizing quantity of labor is 50. The marginal product of capital is
5 units.
5,000 units.
50 units.
A. slopes upward because monopolists use more capital than do perfectly competitive firms.B. slopes down because of the law of diminishing marginal returns and because the monopolist
C. must lower prices to sell additional units of the good.
D. slopes down for the same reason as the demand curve for labor of a perfectly competitive firms.
E. is horizontal even though the demand curve for labor for a competitive firm is downward sloping.
Explanation / Answer
B. slopes down because of the law of diminishing marginal returns and because the monopolist
A. U.S firms have an incentive to outsource work to India.
D. marginal physical product times the product price.
A.labor outsourcing.
such that the marginal physical product per last dollar spent on each factor of production is equalized.
D
$200
an increase in the supply of labor.
less elastic than the horizontal summation of the individual firms' demand curves because output price changes as total output changes.
always less elastic than the MRP curve of the perfect competitor.
200 units.
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.