For an employer,profits are maximized when the
A) price of the product exceeds the price of labor.
B) marginal product of labor is greater than its price.
C) price of labor equals the price of all other inputs.
D) value of labor's marginal product is equal to the price of the product.
E) price of labor equals the value of its marginal product.
Correct Answer:
Verified
Q1: The following question are based on the
Q2: Blue-collar workers make up approximately _ percent
Q4: The following question are based on the
Q5: The following question are based on the
Q6: In general,a firm should employ additional units
Q7: If a worker costs $75 per day
Q8: The marginal product of an additional
Q9: The real wage
A) equals the amount of
Q10: The money wage adjusted for the price
Q11: The price of labor services is generally
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