The value of marginal product of labour curve is downward sloping because
A) firms must lower price to sell more.
B) at lower wages,only less qualified workers are available.
C) of the law of diminishing marginal product.
D) profits decline as more workers are hired.
E) productivity rises as more workers are hired.
Correct Answer:
Verified
Q35: In many cases,labour represents 70% of all
Q36: The value of marginal product for the
Q37: In order to maximize its profit,or minimize
Q38: To a perfectly competitive firm in the
Q39: Monopsony and monopoly are similar in that
A)
Q41: Susan is a labour market monopsonist.The labour
Q42: If a firm faces an upward-sloping supply
Q43: A monopsonist finds that if he hires
Q44: When firm J hired its tenth worker,its
Q45: Given identical demand,a monopsonist will hire _
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents