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.
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.
举一反三
- 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 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.
- 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 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 type of profit maximizing firm will choose to produce where marginal revenue equals marginal cost?