The demand for labour is a derived demand. Until what point do employers hire workers?
A) when the wage rate equals the marginal revenue product of labour
B) when last worker hired adds nothing to total output
C) when the wage rate equals the average product of labour
D) when the average product of labour is zero
Correct Answer:
Verified
Q1: When labour is a firm's only variable
Q2: Approximately what percentage of national income goes
Q3: Which of the following best describes the
Q5: Which of the following best illustrates the
Q6: What relationship does the market supply curve
Q7: When should the profit-maximizing firm continue hiring
Q8: What can we conclude the greater the
Q9: If the demand for hockey tickets increases,
Q10: What does the marginal product of labour
Q11: When a firm is competitive in both
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