• 2022-05-27
    A competitive firm hires labor until the marginal product of labor equals the
    A: real wage.
    B: rental price of capital.
    C: price of output.
    D: capital/labor ratio.
  • A

    内容

    • 0

      If a firm buys its labor in a competitive market, then a short-run increase in the price of the firm's output will cause the firm to( ) A: hire fewer workers. B: offer a higher wage. C: offer a lower wage. D: hire more workers.

    • 1

      A firm will hire a worker whenever that worker's marginal product of labor is:() A: greater<br/>than the marginal product of labor for the next best worker. B: less<br/>than the marginal product of labor for the next best worker. C: greater<br/>than the worker's wage. D: less<br/>than the worker's wage.

    • 2

      A competitive,<br/>profit-maximizing firm hires workers up to the point where<br/>the__________ A: marginal<br/>product equals zero. B: marginal<br/>revenue product equals zero. C: marginal<br/>product equals the nominal<br/>wage. D: value<br/>of the marginal product equals the wage.

    • 3

      The causes of wage-push inflation are ( ). A: Wage price spiral B: Strong labor union C: Incompletely competitive labor market D: Expansionary income policy

    • 4

      Because the productivity of labor decreases as the quantity of labor employed increases, A: the quantity of labor a firm demands increases as the real wage rate decreases. B: the quantity of labor a firm demands increases as the money wage rate decreases. C: the labor demand curve shifts right as the real wage rate decreases. D: the aggregate production function shifts upward as the real wage rate decreases.