If both the goods and the labor market are perfectly competitive, a firm that hires labor up to a point where the value of marginal product of labor equals the wage rate also produces at a point where price is:
A) equal to average cost.
B) equal to marginal cost.
C) less than marginal cost.
D) higher than marginal cost.
B
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If the U.S. government considers the value of in-kind transfers, the U.S. poverty rate decreases.
Answer the following statement true (T) or false (F)
For poor countries, a lack of capital and poorly developed infrastructure contribute to low farm productivity.
Answer the following statement true (T) or false (F)
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.
How are the coordination problem and timing problem of monetary policy similar?
a. Both deal with a lack of control over certain factors. b. Both deal with foreign financial entities. c. Both focus on fiscal and monetary interactions. d. Both focus on nonbank institutions.