If a firm acquires new machines that complement labor
A. there will be no effect on the marginal product of labor curve.
B. the amount of labor services hired will decrease.
C. the marginal revenue product of labor curve will shift upward.
D. the marginal revenue product of labor curve will shift downward.
C. the marginal revenue product of labor curve will shift upward.
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Based on the long-run Phillips curve, we can conclude that expected inflation plays:
A. a minor role in determining inflation. B. an uncertain role in determining inflation. C. an important role in determining inflation. D. no role in determining inflation.
Which of the following changes in the aggregate demand and aggregate supply curves in likely to result in stagflation?
A) The aggregate demand curve shifts to the left when the economy is in the classical range of the aggregate supply curve B) The aggregate demand curve shifts to the right in classical range C) The aggregate demand curve shifts to the right when the economy is in the Keynesian range of the aggregate supply curve D) The aggregate supply curve shifts left E) The aggregate supply curve shifts right
For a perfectly competitive firm facing the short-run break-even price
A. it should expand production. B. it has an economic profit of zero. C. it should shut down. D. it has a negative accounting profit.
Which of the following is related to the additional revenues business owners expect to enjoy as a result of hiring the employee?
A. the wages for Wendy Peffercorn, a cashier at the Piggly Wiggly B. the salary of Dallas Mavericks' player Dirk Nowitski C. the signing bonus for Saul Goodman, a new attorney at the Hamlin, Hamlin, and McGill law firm D. All of the above are correct.