A perfectly competitive firm in a competitive labour market will hire more labour whenever
A) its average revenue product of labour exceeds the wage rate.
B) its value of marginal product of labour exceeds the wage rate.
C) the wage rate exceeds its value of marginal product of labour.
D) the wage rate exceeds its average revenue product of labour.
Correct Answer:
Verified
Q130: The demand for a product produced by
Q131: The demand for labour depends on
I. technology.
II.
Q132: A professional tennis player enters fewer tournaments
Q133: According to the Hotelling Principle, the price
Q134: A technological change that raises the value
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