Table 10-2

-Refer to Table 10-2.What is the profit-maximising quantity of labour that the firm should hire?
A) 5 units
B) 4 units
C) 3 units
D) 2 units

Name: Table 10-2 -Refer to Table 10-2.What is the profit-maximising quantity of labour that the firm should hire? A) 5 units B) 4 units C) 3 units D) 2 units
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Question

Table 10-2
 
-Refer to Table 10-2.What is the profit-maximising quantity of labour that the firm should hire?
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 10-2 -Refer to Table 10-2.What Is the Profit-Maximising Quantity of Labour