Graph 18-1 This graph represents the value of marginal product for a firm that sells its product in a competitive market.Use the graph to answer the following question(s).
-Refer to Graph 18-1.If a firm were operating at a level of output below Q*, hiring more workers would:

Question

Graph 18-1  This graph represents the value of marginal product for a firm that sells its product in a competitive market.Use the graph to answer the following question(s).
-Refer to Graph 18-1.If a firm were operating at a level of output below Q*, hiring more workers would:

Quizplus · Accepted Answer

At a level of output below Q*, hiring more workers would increase output, bringing the firm closer to the optimal level of production (Q*), where marginal cost equals marginal revenue, thus increasing profit.

Graph 18-1 This Graph Represents the Value of Marginal