Micro week 7

Covering Chapter 16 &17 (Maximum possible points: 50)

Due: Day 7(11:59pm)

Watch the following video, and answer the following questions.

1. In a labor market, can an individual firm determine the market wage? Answer this using at least 100 words.
2. According to this video, explain how many workers an individual firm should hire in order to maximize profit, according to the Rule for Hiring? Answer this using at least 100 words.
3. According to this video, how would you determine how much revenue is generated by hiring additional worker? Answer this using at least 100 words.

• Levels of AchievementCriteriaExemplaryAccomplishedDevelopingBeginning

  Knowledge

  Weight 40.00%

  90 to 100 %

  Demonstrates mastery and accuracy of concepts, terms and theories selected by the student without error

  80 to 89 %

  Demonstrates mastery and accuracy of most of the major concepts, terms, and theories with several errors

  70 to 79 %

  Demonstrates moderate understanding of a few of the concepts, terms and theories, but lacks a mastery of the majority

  0 to 69 %

  Demonstrates basic understanding of the concepts, terms, and theories, but lacks any mastery at all

  Quantitative Skill 

  Weight 40.00%

  90 to 100 %

  Provides graphical analysis and/or calculations with great accuracy without error

  80 to 89 %

  Provides graphical analysis and/or calculations with great accuracy without several errors

  70 to 79 %

  Provides graphical analysis and/or calculations with moderate accuracy with many errors

  0 to 69 %

  Provide no graphical analysis and/or calculations

  Writing & Organization

  Weight 20.00%

  90 to 100 %

  The structure of content is strong and helps readers move through the text smoothly. The content contains effective transitions between paragraphs. Minimum words requirement is met

  89 to 89 %

  The structure of content has a clear organizational structure, and helps readers to understand fairly easy, but slightly lacks effective transitions between paragraphs. Minimum words requirement is met

  70 to 79 %

  The structure of content is understandable, but significantly lacks effective transitions between paragraphs. Minimum words requirement is not met