Which of the following statements is correct?
a. The value of the marginal product curve is the labor demand curve for competitive, profit-maximizing firms.
b. A competitive, profit-maximizing firm hires workers up to the point where the value of the marginal product of labor equals the wage.
c. By hiring labor up to the point where the value of the marginal product of labor equals the wage, the firm is producing where price equals marginal cost.
d. All of the above are correct.
d
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When the Fed pursues a monetary policy of low interest rates, the exchange rate between the dollar and other currencies will tend to ________, generally making it ________ for foreign firms to sell their goods in the United States
A) rise; easier B) rise; more difficult C) fall; easier D) fall; more difficult
A depreciation in the dollar relative to the yen would make Japanese-produced input X more expensive for U.S. producers
Indicate whether the statement is true or false