Marginal revenue product, Outline reasons why the marginal

Marginal revenue product

Assignment Help Business Economics

Reference no: EM136636

Q. If a firm faces a shortage of workers with very special skills, it may decide to undertake necessary training itself. if on the other hand it faces a shortage of unskilled workers, it may well off a small wage increase in order to obtain the extra labour. in the first case it is responding to an increase in demand for labor by attempting to shift the supply curve. in the second case it is merely allowing a movement allong the supply curve.
a. use a diagram to illustrate each case.
b. outline reasons why the marginal revenue product differs between workers in different jobs.

Reference no: EM136636

Questions Cloud

Theory that changing the oil : How to design an experiment to test the theory that changing the oil of the new backhoes and forklifts will reduce repairs.

What hormone do the adrenal glands produce : What hormone do the adrenal glands produce. An uncold-worked brass specimen of average grain size 0.008 mm has yield strength of 170 MPa. Estimate the yield strength of this alloy (in MPa) after it has been heated to 600°C for 1260 s, if it is known ..

Sildavia a market for basket of goods and services : In the country of Sildavia, a market basket of goods and services cost $ 130 in 2003, $ 140 in 2004, and $160 in 2005. Based on this information and considering 2003 as the base year, inflation from 2003 to 2005.

Which setting tends to be warmer on a given day : Martha is maintaining her current weight by eating 2,500 kcalories per day. To lose 1 pound of fat per week, she would have to decrease her intake to how several kcalories per day. Considering the albedo of various surfaces how might temperatures var..

Marginal revenue product : Outline reasons why the marginal revenue product differs between workers in different jobs.

What is the exact benefit relationship : Recent evidence shows that the individual chromosomes occupy fairly defined territories within the nucleus. Given the structure and location of parts of the nucleus, which would be more probably involved in chromosome location.

Securities in the market : Shadow Bank 411 buys $3 million more securities in the market and "pays" for them with its account at Bank 411. Bank 411 borrows $3 million more as a first response.

An accumulation of fluid in the abdominal cavity : It is frequently when the environment changes in some way that is unfavourable to an existing population that the organisms begin to reproduce sexually. Explain the importance of this switch from asexual to sexual reproduction.

Neoclassical models of labor supply and labor demand : What are the strength of the neoclassical models of labor supply and labor demand. What are the weakness of the neoclassical models of labor supply and labor demand.

User Account

All Pages