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: real wage.
B: rental price of capital.
C: price of output.
D: capital/labor ratio.
举一反三
- A competitive firm hires labor until the marginal product of labor<br/>equals the ____ A: real wage. B: rental price of capital. C: price of output. D: capital/labor ratio.
- Which of the following statements is correct? A: The value of the marginal product curve is the labor demand curve for competitive, profit-maximizing firms. B: A competitive, profit-maximizing firm hires workers up to the point where the value of the marginal product of labor equals the wage. C: By hiring labor up to the point where the value of the marginal product of labor equals the wage, the firm is producing where price equals marginal cost. D: All of the choices are correct.
- Which of the following will increase the marginal product of labor in the labor market? A: An increase in the price level and the money wage. B: An increase in the real wage. C: A decrease in the capital stock. D: An increase in the supply of labor.
- A profit-maximizing competitive firm will hire workers up to the point at which the wage equals the marginal product of labor A: 正确 B: 错误
- The production function is the A: increase in the amount of output from an additional unit of labor. B: marginal product of an input times the price of output. C: relationship between the quantity of inputs and output. D: shift in labor demand caused by a change in the price of output.