The value of marginal product for the last worker hired is $20 and the wage rate is $25.The firm
A) should hire another worker.
B) is maximizing profit.
C) should keep the last worker it hired.
D) is minimizing cost.
E) should hire fewer workers.
Correct Answer:
Verified
Q31: Marginal product is a measure of the
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
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)
Q40: The value of marginal product of labour
Q41: Susan is a labour market monopsonist.The labour
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