Which of the following represents the general rule of hiring for a firm?
A) Total physical product equals marginal factor cost.
B) Average revenue product equals the wage rate.
C) Marginal cost equals marginal revenue.
D) Marginal revenue product equals marginal factor cost.
Correct Answer:
Verified
Q129: The additional cost associated with hiring one
Q130: Q131: Marginal factor cost is computed as Q132: Derived demand is Q133: The additional revenue associated with hiring one Q135: If the price of a product being Q136: The MRP is Q137: Since the demand for labor depends upon Q138: The MRP of labor will shift to Q139: The firm's demand for labor curve is
A) total
A) a derivative of the
A) the supply curve of
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