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Economics Lecture Six (view source)

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===Honors===
 
===Honors===
   −
Provide brief answers to '''''any four of the following five questions'''':
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Provide brief answers to '''''any four of the following five questions''':
    
9.  Suppose there is a sudden increase in the market price for a firm's widget.  The firm will hire more employees to produce more output until the point where the value of its marginal product of labor equals its _____________.  [Hint: the answer is NOT simply "marginal cost"].
 
9.  Suppose there is a sudden increase in the market price for a firm's widget.  The firm will hire more employees to produce more output until the point where the value of its marginal product of labor equals its _____________.  [Hint: the answer is NOT simply "marginal cost"].
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