When is it not in the best interest of a company to hire additional workers in the short run?
A) when the average product of labor is decreasing
B) when the firm is in Stage II of the production process
C) when the marginal revenue product equals zero
D) when the wage rate is equal to or greater than labor's marginal revenue product
D
Economics
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A competitive market is one in which a number of buyers and sellers are offering similar products, and no single buyer or seller can influence the market price
a. True b. False Indicate whether the statement is true or false
Economics
If a tax is levied on the sellers of a product, then there will be a(n)
a. downward shift of the supply curve. b. upward shift of the supply curve. c. decrease in quantity supplied. d. increase in quantity supplied.
Economics