An improvement in managerial efficiency in a Fortune 500 corporation increases the marginal revenue product of all people working for the corporation. Assuming that the wage of workers who are hired in a competitive labor market remains constant, the company will
A. fire some workers.
B. hire some workers.
C. neither increase nor decrease the number of workers employed.
D. shut down unless it can lower wages.
B. hire some workers.
Economics
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Which of the following causes a movement along a supply curve?
A) a change in resource costs B) a change in technology C) a change in the price D) all of the above
Economics
When a nation begins to export a good,
a. the domestic price of that good falls b. less of that good is produced domestically c. the domestic producers are made better off d. the domestic consumers are made better off e. both domestic and foreign consumers will purchase more of it
Economics