If the MRP of labor were $100 and the wage rate were $200,
A) exactly the right amount of labor is being used.
B) not enough labor is being used.
C) only half as much labor is being used as should be used.
D) too much labor is being used.
Correct Answer:
Verified
Q107: Factors of production that can be used
Q110: Total Revenue Product with one unit of
Q112: Land and capital are substitutes.If rent goes
Q115: This producer
A)is a perfect competitor.
B)is an imperfect
Q117: Marginal Revenue Product with one unit of
Q121: Suppose that the MRP of the sixth
Q123: Which statement is true?
A)Productivity is input per
Q125: In 1973 the Russian wheat crop failed
Q130: A sharp rise in the price of
Q136: If the wage rate were $50,how many
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