A profit-maximizing firm will hire additional units of labor until
A) the additional cost of hiring the last worker equals the additional revenue generated by that worker.
B) the additional cost of hiring the last worker equals the marginal factor cost of the worker.
C) the extra revenue from hiring the last worker equals the marginal physical product of labor.
D) the extra cost from hiring the last worker equals the cost of the product.
Correct Answer:
Verified
Q88: Ajax has just discovered that the marginal
Q89: The demand curve for labor slopes down
Q90: The cost of using an additional unit
Q91: Q92: If MFC > MRPL, the firm should Q92: If MFC > MRPL, the firm should Q95: If the additional revenue from hiring an 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
A)
A)
