Econ Micro (book Only)
6th Edition
ISBN: 9781337408066
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 12, Problem 3P
To determine
Ways to measure the value the workers attach to a job amenity.
Concept Introduction:
Job amenity: additional features or benefits that enhances the desirability of a job
Non-wage determinants of labor supply: this is a concept that defines the number of workers that are able to work in a particular job or industry at a given wage rate.
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Students have asked these similar questions
Labor (L)
Quantity of
Output (Q)
Average Product
of Labor (APL)
Capital (K)
Marginal Product
of Labor (MPL)
10
1
10
50
?
2
10
70
?
3
10
70
4
10
240
?
QUESTION 18
The following table shows the DVDS production. Study the table and answer the questions?
Labor (L)
Total
Marginal
Product
Average
Product of
MRPL
product of
labor (TPL)
W
(MPL)
labor (APL)
20
20
30
36
4
40
42
42
1. Based on the above table, how much is the marginal product (MPL) of the 3rd labor?
2. Based on the above table, which labor has the largest marginal product?
7. Use a graph and derive the labor supply
curve of a worker. Explain in detail.
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