Question $1$

$1$ pts

Word Bank Matching $($Use the drop$-$down for each question. No words in the word bank are repeated in an answer$)$: Derived Demand; Marginal Revenue Product; Marginal Factor Cost; Least$-$Cost Rule; Elasticity of Demand for Labor.

When a firm is choosing among various possible inputs it should follow the which basically says to get the cheapest input per unit of output $($or the input that gives the most output per dollar$).$

Greko started a gardening service trimming trees. He hires each worker at the market wage of $$17$ per hour. Per hour, the first worker brings in $$50$ additional dollars of revenue to Greko's business, the second worker brings in $$34$ additional dollars, and the third worker brings in $$19$ additional dollars.

The $$17$ per hour wage is called to Greko's individual firm, and the $$50,$ $$34,$ and $$19$ are called

One of the main determinants of the wage for any labor market is the or the demand for the good or service in the market.

If the wage rises due to a shift in the supply of labor or changes