Table 12.2
-Refer to Table 12.2.The profit-maximising quantity of labour that the firm should hire is
A)5 units
B)4 units
C)3 units
D)2 units

Name: Table 12.2 -Refer to Table 12.2.The profit-maximising quantity of labour that the firm should hire is A)5 units B)4 units C)3 units D)2 units
Brand: Quizplus
Rating: 4.8 (38 reviews)

Question

Table 12.2 
-Refer to Table 12.2.The profit-maximising quantity of labour that the firm should hire is
A)5 units 
B)4 units 
C)3 units 
D)2 units

Quizplus · Accepted Answer

The profit-maximising quantity of labour is 5 units because at this quantity, the marginal revenue product of labour (MRPL) is equal to the marginal cost of labour (MCL).

Table 12.2 -Refer to Table 12.2.The Profit-Maximising Quantity of Labour That the Labour