A firm should hire more workers to increase its profits if
A) the marginal product of labor is greater than the wage the firm will pay these workers.
B) the wage rate is less than the marginal revenue product of labor.
C) there is enough capital and other resources for the workers to use.
D) the demand for labor is elastic.
Correct Answer:
Verified
Q43: A firm's demand curve for labor slopes
Q44: The demand for labor is different from
Q45: The marginal product of labor is
A)the payment
Q46: Holding the price of a firm's output
Q47: For a firm that is a price
Q49: The marginal revenue product of labor is
Q50: The demand curve for labor is also
A)the
Q51: An increase in the demand for orthodontic
Q52: Marginal revenue product falls as more labor
Q53: Hotspur Incorporated, a manufacturer of microwaves, is
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