McGraw-Hill OnlineMcGraw-Hill Higher EducationLearning Center
Student View | Instructor View | Information Center | Home
Economics on the Web
Career Opportunities
Econ Graph Kit
PowerPoint Presentations
Multiple Choice Quiz
Web-Based Issues Questions
Key Terms
Feedback
Help Center


Issues in Economics Today
Issues in Economics Today
Robert Guell, Indiana State University

Unions

Key Terms


marginal resource cost  The increase in total labor costs to the firm of buying increasing amounts of labor.
marginal revenue product of labor  The additional revenue generated from hiring an additional worker.
monopsony  A market with only one buyer.




McGraw-Hill/Irwin