When a firm hires labor up to the point where the wage is equal to the value of the marginal product of labor, it is
a. minimizing labor costs.
b. guaranteeing that labor costs do not exceed fixed costs.
c. maximizing the number of workers it can hire and still experience a positive profit.
d. maximizing profit.
d
Economics
You might also like to view...
If, for a $1000 premium, you buy a $100,000 call option on bond futures with a strike price of 110, and at the expiration date the price is 114, your ________ is ________
A) profit; $4000 B) loss; $4000 C) profit; $3000 D) loss; $3000
Economics
The money demand curve will shift to the left when which of the following occurs?
A) a reduction in the interest rate B) an increase in the interest rate C) an open market sale of bonds by the central bank D) an increase in income E) none of the above
Economics