If the market for labor is perfectly competitive, the profit maximizing level of labor occurs where
A) MRPL < W (the wage).
B) MRPL = P (the output price).
C) MRPL just exceeds W.
D) MRPL = W.
E) none of the above
D
Economics
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The marginal cost curves slope upward because of the principle of
A) decreasing marginal benefits. B) increasing marginal cost. C) increasing marginal benefits. D) decreasing marginal cost. E) decreasing total benefit.
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When playing a game, you need to
A) anticipate the moves others might be making. B) choose a strategy based on the move you anticipate from your rival. C) both A and B D) neither A nor B
Economics