Econ 101 HW 8 due april 19

Econ 101 HW 8 due april 19 - Take Assessment: Homework Due...

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Take Assessment: Homework Due Sunday, April 19 Question 1 1 points Save Why do individuals, firms, and the the government invest money in education? a. Because going to college beats having to work. b. Because voters favor money being spent on education. c. Because education makes workers less productive meaning that firms can pay lower wages. d. Because increases in effective labor increase the amount of output that can be produced by existing workers. Question 2 1 points Save The demand for labor is the a. Marginal Product of Labor. b. Marginal Revenue Product of Labor. c. The price of output. d. How much fun it is to boss people around. Question 3 1 points Save We say that the demand for labor is a derived demand because a. The demand for labor depends on the marginal product of labor. b. Because we have to take a derivative to find the Marginal Revenue Product of Labor. c. Because the demand for labor depends on the price of the output it produces which is derived from the demand for the output. d. Because the demand for labor derives from
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Econ 101 HW 8 due april 19 - Take Assessment: Homework Due...

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