Get Advice on Live Video Call
Earn $ Cash $ with
consultations on Bissoy App

7 workers work in a printing press. Each gets paid Rs 450 per day. The 8th worker demands Rs 500 per day. If this worker is hired then all other workersmust be paid Rs 500. The marginal resource (labour) cost of the 8th worker is _______.

Correct Answer: Rs 850

A hand made paper workshop can hire 8 craftsmen by paying them Rs 400 per person per day. The 9th craftsman demands Rs 450 per day. If thiscraftsman is hired then all other craftsmen must be paid Rs 450. The marginal resource (labour) cost of the 9th craftsman is

When labour is plotted on X-axis and capital is plotted on Y-axis and an isoquant is prepared, then which of the following statement(s) is/arefalse?
1. Marginal rate of technical substitution of labour for capital is equal to the slope of the iso-quant.
2. Marginal rate of technical substitution of labour for capital is equal to change in the units of capital divided by the change in the units of labour.
3. Marginal rate of technical substitution of labour for capital is the ratio of marginal productivity of capital to marginal productivity of labour.

A beedi making workshop can hire 5 women by paying them Rs. 300 per day. The 6th woman demands Rs. 350 per day. If this woman is hired then allother women must be paid Rs. 350. The marginal resource (labour) cost of the 6th woman is

A ceramic pottery unit hires 8 craftsmen by paying each of them Rs 900 per day. The 9th craftsman demands Rs 950 per day. If this craftsman is hiredthen all other craftsmen must be paid Rs 950. The marginal resource (labour) cost of the 9th craftsman is _________.

Which of the following statements are true/false?
1. Demands for goods is directly proportional to the labour market.
2. Marginal productivity is the addition made to the total production by subtracting one worker from the existing labour force.
3. Demand for labour is dependent on the elasticity of demand for product produced by the labour.
4. At higher wages, the demand for labour will be higher.

Each of the following problem has a question and two statements which are labeled 1. and. Use the data given in 1. and 2. to decide whether the statements are sufficient to answer the question.Select one of the following . a.Statements (1) ALONE is sufficient,but (2) ALONE is not sufficient. b.Statements (2) ALONE is sufficient,but (1) ALONE is not sufficient. c. Both statement TOGETHER are sufficient but statement alone is sufficient . A worker is hired for six days.He is paid Tk.2 more for each day of work than he was paid for the preceding day of work.How much was he paid for the day of work?

A worker is hired for 7 days, Each day, he is paid 10 taka more then what he is paid for the previous day of work. The total amount he was paid in the first 4 days of work equaled the total amount he was paid in the last 3 days. What was his starting pay?

A worker is hired for 7 days. Each day, he is paid 10 Taka more than what he is paid for the previous day of work. The total amount he was paid in the first 4 days of work equaled the total amount he was paid in the last 3 days. What was his starting pay?

A worker was hired for 7 days. Each day, he was paid Tk. 10 more than what he was paid for the previous day of work. The total amount he was paid in the first 4 days of work equaled the total amount he was paid in the last 3 days. What was his starting pay?

A worker is hired for 7 days. Each day, he is paid 10 Tk. more than what he is paid for the preceding day one work. The total amount he was paid in the first 4 days of work equaled the total amount he was paid in the last 3 days. What was his starting pay?