Question
Use the table below to calculate the marginal labour cost (MLC). Wage Rate Quantity of Labour Supplied $18 15 $19 16 $20 17 a. When
Use the table below to calculate the marginal labour cost (MLC).
Wage Rate | Quantity of Labour Supplied |
$18 | 15 |
$19 | 16 |
$20 | 17 |
| a. | When wages rise from $18 to $19, the MLC is $34. | |
| b. | When wages rise from $18 to $19, the MLC is $19. | |
| c. | When wages rise from $18 to $19, the MLC is $18. | |
| d. | When wages rise from $18 to $19, the MLC is $36. |
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Macroeconomics Principles And Policy
Authors: William J. Baumol, Alan S. Blinder
11th Edition
0324586213, 978-0324586213
