The firm's demand for labor curve is its
A) average product of labor curve.
B) marginal product of labor curve.
C) marginal revenue product of labor curve.
D) average revenue product of labor curve.
C
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Pablo must choose among options A, B, and C. Option A gives him $10,000 for sure. Option B gives him $4,000 with probability 0.5 or $16,000 with probability 0.5. Option C gives him $8,000 with probability 0.5 or $12,000 with probability 0.5
If he receives diminishing marginal utility from wealth, Pablo will A) choose option A. B) choose option B. C) choose option C. D) be indifferent among options A, B, and C.
The number of vehicle types available in the United States has increased dramatically over the past thirty years. Everything else equal, this would make
A) the demand for individual vehicle types to become less elastic. B) the demand for individual vehicle types to become more elastic. C) the demand for all vehicle types to become unitary elastic. D) the demand for low quality vehicle types to become less elastic.