If MRP < P of the factor, firm should hire
A) less factors
B) more factors
C) the same factors
D) All of the above
Correct Answer:
Verified
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:
Q12: If MRP = Price 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
Q18: According to Kaldor-Hicks compensation criteria, the proposed
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