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.
A: hire fewer workers.
B: offer a higher wage.
C: offer a lower wage.
D: hire more workers.
举一反三
- A profit-maximizing competitive firm will hire workers up to the point at which the wage equals the price of the final good
- 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
- A profit-maximizing competitive firm will hire workers up to the point at which the wage equals the price of the final good A: 正确 B: 错误
- 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.
- Before we can accept the firm's offer, we must （ ） the workers.