In order to maximize its profit,or minimize its loss,the firm must hire workers until
A) the extra revenue from the last worker equals the extra profit.
B) the extra revenue from the last worker equals the extra cost.
C) total revenue and total labour cost are equal.
D) the marginal product of workers begin to decline.
E) the marginal product of workers becomes negative.
Correct Answer:
Verified
Q32: Monopsony is a
A) market structure with a
Q33: A monopsonist is able to
A) pay the
Q34: Marginal labour cost is
A) identical to the
Q35: In many cases,labour represents 70% of all
Q36: The value of marginal product for the
Q38: To a perfectly competitive firm in the
Q39: Monopsony and monopoly are similar in that
A)
Q40: The value of marginal product of labour
Q41: Susan is a labour market monopsonist.The labour
Q42: If a firm faces an upward-sloping supply
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