A firm will hire a worker whenever that worker's marginal product of labor is:()
A: greater
than the marginal product of labor for the next best worker.
B: less
than the marginal product of labor for the next best worker.
C: greater
than the worker's wage.
D: less
than the worker's wage.
A: greater
than the marginal product of labor for the next best worker.
B: less
than the marginal product of labor for the next best worker.
C: greater
than the worker's wage.
D: less
than the worker's wage.
举一反三
- A<br/>rational decision maker takes an action only if the() A: marginal benefit is less than the marginal<br/>cost. B: marginal benefit is greater than the<br/>marginal cost. X C: average benefit is greater than the average<br/>cost. D: marginal benefit is greater than both the<br/>average cost and the marginal cost.
- 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 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.
- Refer to Figure 8.1. The marginal product of the second worker is ________ lawns moved.572c629de4b0809f2415ac86.png
- 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.