A competitive firm hires workers as long as:
a. marginal product of labor is positive.
b. value of marginal product of labor is positive.
c. marginal product of labor is greater than the wage rate.
d. value of marginal product of labor is greater than the wage rate.
D
Economics
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A market exchange rate which has been adjusted for inflation is called a
A) nominal exchange rate. B) foreign market price index. C) real exchange rate. D) domestic exchange factor.
Economics
Refer to the figure above. Which of the following is likely to happen if a price control of $40 is imposed?
A) There will be a surplus of 10 units in the market. B) There will be a shortage of 10 units in the market. C) There will be a surplus of 20 units in the market. D) There will be a shortage of 20 units in the market.
Economics