The quantity of labor demanded by the firm is such that the
A) wage rate equals the marginal cost.
B) wage rate equals the value of marginal product of labor.
C) wage rate equals the marginal product of labor.
D) marginal revenue equals the marginal product.
B
You might also like to view...
If, in a closed economy, real GDP is $30 billion, consumption is $20 billion, and government purchases are $5 billion, what is total saving in the economy?
A) $5 billion B) $15 billion C) $45 billion D) $55 billion
________ in the expected future domestic exchange rate causes the demand for domestic assets to decrease and the domestic currency to ________, everything else held constant
A) An increase; appreciate B) An increase; depreciate C) A decrease; appreciate D) A decrease; depreciate
If the demand curve for computers increases:
a. More will be demanded at lower prices b. Less will be purchased at each possible price c. More will be demanded at the same prices d. More will be purchased at each possible price
Which is true of price discrimination?
A. Successful price discrimination will provide the firm with more profit than if it did not discriminate. B. It exists when price differences depend critically on differences in the costs of production of serving different groups of buyers. C. Successful price discrimination will generally result in a lower level of output than would be the case under a single-price monopoly. D. Successful price discrimination will provide the firm with lower total profits than if it did not discriminate.