WebA profit-maximizing firm will hire labor until the real wage and labor's marginal product are equal. a. If marginal product is greater than the real wage, the value of the marginal … http://www2.harpercollege.edu/mhealy/eco211f/micvideonotes12a.htm
In a competitive labor? market, the? profit-maximizing number of ...
Web2) To maximize profit, a firm hires labour until A) there is no more labour available at the market wage rate.B) they can sell that labour for no more than what they paid for it. C) the wage rate paid to the labour equals the marginal cost of production. WebQuestion: MC 6 A competitive, profit-maximizing firm hires labour until the: a) marginal product of labour equals the wage. b) real wage equals the real rental price of capital c) wage equals the rental price of capital. bluetooth earphone latency xi1000x
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Web13. A profit-maximizing firm should keep hiring more labor until the point where the marginal revenue product of labor is equal to a. Marginal productivity of capital. b. Factor … WebSince a profit-maximizing firm hires labor until MPL = W/P, the labor demand function in this case is Ld = 0.25K/ (W/P)2 A. Suppose the economy has 1,000 units of capital and a labor force of 1,000 workers. What is the This problem has been solved! You'll get a detailed solution from a subject matter expert that helps you learn core concepts. WebQuestion: 1. A profit-maximizing firm hires labor up to the point where A. Price of the product equals the value of marginal product. B. Price of the product equals the wage rate. C. The wage rate multiplied by the quantity of labor equals the marginal product. D. The wage rate equals the value of marginal product. E. Marginal 1. clearwater high school florida