When the competitive firm's value of the marginal product of labor intersects the market-wage level, the firm:
A. can increase its profits by hiring any amount less than this point.
B. can increase its profits by hiring any amount greater than that point.
C. should consider shutting down since it is not earning profits.
D. has found the profit-maximizing quantity of labor to hire.
D. has found the profit-maximizing quantity of labor to hire.
You might also like to view...
When people speak of the labor force participation rate, they are actually talking about the percentage of
a. people not working but actively seeking work. b. people who are working. c. new entrants into the labor force. d. working-age people who are either working or seeking work.
Suppose consumer tastes shift toward the consumption of apples. Which of the following statements is an accurate description of the impact of this event on the market for apples?
a. There is an increase in the demand for apples and an increase in the quantity supplied of apples. b. There is an increase in the demand and supply of apples. c. There is an increase in the quantity demanded of apples and in the supply for apples. d. There is an increase in the demand for apples and a decrease in the supply of apples. e. There is a decrease in the quantity demanded of apples and an increase in the supply for apples.
_______________is a type of cost-benefit decision making that compares the extra benefits to the extra cost of an action.
Fill in the blank(s) with the appropriate word(s).
Personal income taxes and corporate income taxes are examples of ____ taxes.
A. variable B. sales C. fixed D. disposable