If a firm's marginal product of labor is currently 75 units of output,the wage is $15 per unit of labor,and output sells for $0.80 per unit,the firm should
A) shut down production
B) hire fewer workers
C) maintain its current workforce, but at fewer hours per worker
D) keep the current number of employees and hours worked
E) hire more labor
Correct Answer:
Verified
Q5: The replacement ratio is defined as
A) The
Q6: If firms seek an average markup of
Q7: Which of the following would not give
Q8: The marginal product of labour is defined
Q9: Which of the following is the least
Q11: Increases in labor productivity from improved technology
A)
Q12: Suppose that production at a firm occurs
Q13: In most developed economies,unemployment insurance benefits
A) are
Q14: If the stock of physical capital remains
Q15: Among developed economies,the natural rate of unemployment
A)
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