If a firm is a price taker in both the labor market and the output market, it will
A) earn zero economic profit in the short run.
B) hire labor until the marginal product of labor equals zero.
C) hire labor until the marginal revenue product equals the output price.
D) hire labor until the marginal revenue product equals the wage rate.
D
Economics
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The price of a bond is determined by
A) the seller. B) the buyer. C) the demand for and supply of bonds. D) the investment bank that auctions off the bonds.
Economics
Examining U.S. business cycles over time reveals that they ________
A) occur at regular intervals B) are of uniform duration C) are of similar magnitude D) all of the above E) none of the above
Economics