Day: November 18, 2022

To increase its labour force from 50 to 51 workers, a firm has to increase the daily wage rate from £600 to £610.

What is the marginal cost of labour per day?

Select ONE answer:

1. £10
2. £510
3. £610
4. £1,110

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Economics KS4 and KS5 classes.

The answer is 4

1. Not correct
2. Not correct
3. Not correct
4. Correct – £600 + (51 * £10)

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