When MFC < MRP, a firm in a competitive market will

A) stop hiring more workers.
B) hire more workers.
C) earn fewer profits.
D) layoff workers.

Answer: B

Economics

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According to the profit-maximization goal, the firm should attempt to maximize short-run profits since there is too much uncertainty associated with long-run profits

a. true b. false

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If firms are experiencing falling inventories, one can expect that firms will cut production

a. True b. False Indicate whether the statement is true or false

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