If MRP = Price of the factor: firm should _______ at the unit of factor
A) less factors
B) more factors
C) stop hiring more
D) All of the above
Correct Answer:
Verified
Q7: We should employ units of a factor
Q8: If marginal product of labour rises because
Q9: Increasing the minimum wage for workers will:
A)Sole
Q10: The price of capital is
A)money
B)Interest
C)profits
D)wages
Q11: If MRP > Price of the factor:
Q13: If MRP < P of the factor,
Q14: The labor market equilibrium determines the wage
Q15: Union leaders are in a worse position
Q16: The concept of social optimum was introduced
Q17: An ethical or value judgement must be
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