When a firm competes in a competitive market with some market power, the profit maximizing level of employment occurs where?
a. MRP=MRC
b. ATC=ATR
c. VC=FC
d. there is no optimal level of employment
a
Economics
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The Keynesian model is based on the idea that
A) both consumption and saving are directly related to disposable income. B) saving depends only on the interest rate. C) consumption is unrelated to the level of real Gross Domestic Product (GDP). D) both consumption and saving are unrelated to the level of real Gross Domestic Product (GDP).
Economics
If the aggregate price level ________, but nominal wages stay fixed, real wages ________
A) falls; fall B) rises; fall C) rises; remain fixed D) falls; remain fixed
Economics