Use the following to answer question(s) : Demand and Supply of Bricklayers in a Perfectly Competitive Labor Market
-(Exhibit: Demand and Supply of Bricklayers in a Perfectly Competitive Labor Market) Which of the following statements is true?
A) Bricklayers should be hired whenever the marginal revenue product of bricklayers is less than the marginal factor cost of bricklayers.
B) The profit-maximizing condition for the firm hiring bricklayers is where MRPBRICKLAYERS is greater than the MFCBRICKLAYERS.
C) The profit-maximizing condition for a firm hiring bricklayers is where MRBRICKLAYERS equals the MFCBRICKLAYERS.
D) Bricklayers should be hired whenever the marginal factor cost of bricklayers is greater than the marginal revenue product of bricklayers.
Correct Answer:
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