The decision rule for a profit-maximizing firm operating in a competitive market to hire an additional worker is the value of the:
A) marginal product of the worker should be equal to or greater than the wage rate.
B) marginal product of the worker should be equal to or lower than the wage rate.
C) average product of the worker being hired should be equal to the wage rate.
D) average product of the worker being hired should be lower than the wage rate.
A
Economics
You might also like to view...
A small change in a variable is
A) a ceteris paribus change. B) an efficient change. C) a marginal change. D) an average change.
Economics
M1 is a measure of
A) money and includes both currency and checking deposits. B) liquidity and in which the most liquid asset is money. C) money and includes both savings deposits and currency. D) money and includes both savings deposits and money market mutual funds.
Economics