When MFC = MRP, a firm in a competitive market will
A) stop hiring more workers.
B) hire more workers.
C) earn additional profits.
D) layoff workers.
Answer: A
Economics
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An increase in consumer spending based on an increase in income is reflected by
A) an upward rotation of the consumption function. B) a downward shift in the consumption function. C) a movement up along the consumption function. D) an increase in the MPC.
Economics
Based on the production and revenue data in the above table, if the wage rate is $35 per worker, how many workers will be hired?
A) 5 B) 4 C) 3 D) 2
Economics