• 2022-06-07
    Marginal product of labor is the increase in the amount of output from an additional unit of labor.
    A: right.
    B: wrong.
  • A

    内容

    • 0

      Which of the following can be predicted to increase the demand for labor? a. An increase in the price of a gross complement to labor b. A decrease in the price of a gross substitute for labor c. A decrease in the number of firms d. An increase in product demand A: An increase in the price of a gross complement to labor B: A decrease in the price of a gross substitute for labor C: A decrease in the number of firms D: An increase in product demand

    • 1

      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.

    • 2

      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.

    • 3

      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.

    • 4

      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.