Firms will hire labor up to the point where
A) the marginal product is equal to the nominal wage
B) the average product is equal to the real wage
C) the average product is equal to the nominal wage
D) the marginal product is equal to the real wage
Correct Answer:
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Q32: Investment in training is called:
A)human capital.
B)foregone income.
C)current
Q33: When dealing with the demand for inputs
A)substitution
Q34: The dead weight loss of a monopsonist
Q35: A firm's downward sloping demand for an
Q36: The demand for labour:
A)is not the result
Q38: In general, the supply functions of intermediate
Q39: An increase in the interest rate will:
A)shift
Q40: The marginal revenue product is:
A)equal to the
Q41: The price of leisure:
A)depends on the number
Q42: Which of the following is not a
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