Labor Markets and Productivity From Diego Rivera Murals, Detroit Institute of Arts.

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Presentation transcript:

Labor Markets and Productivity From Diego Rivera Murals, Detroit Institute of Arts

What is the most that you would be willing to pay to attend a live performance of the reunited Led Zeppelin in Campbell Hall?

The marginal product of labor is the A)Amount of output divided by amount of labor input. B)Amount of output if only one unit of labor is used. C)Extra output gained from adding one unit of labor. D)Amount of time it takes to produce one unit of output.

What is the marginal product of labor if 4 units of labor are currently used? A)6 B)5 C)30 D)7 E)2 No of workers Output

Clicker Reflex Test Press the letter “A” on your clicker.