An increase in the marginal factor cost of labor will
A) lead to an increase in the quantity demanded of labor.
B) induce a firm to hire fewer workers.
C) lead to an increase in the value of an additional worker.
D) cause the value of the marginal product of labor to increase.
B
Economics
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If a firm is maximizing profits, the extra revenue it receives from selling its last unit of output exceeds the extra cost of producing that unit
Indicate whether the statement is true or false
Economics
The effect of an import quota is
A) to shift the supply curve up by the amount of the quota. B) to lead to a decrease in demand. C) to make the supply curve vertical at the amount of the quota. D) to make the supply curve horizontal at the amount of the quota.
Economics