The optimal number of workers to be hired by a firm operating in a competitive labor market is where:

a. P = MRP.
b. MP = MRP.
c. MRP = w.
d. P = w.
e. TWC = w.

c

Economics

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Define autonomous consumption and explain how it is represented on a consumption function graph

What will be an ideal response?

Economics

Let C represent consumption expenditure, S saving, I gross private domestic investment, G government expenditure on goods and services, and X - M net exports of goods and services. Then GDP equals

A) C + S + G + X - M. B) C + S + G - X - M. C) C + I + G + X - M. D) C + I + G - X - M.

Economics