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2 weeks ago
Suppose the MRP of the 49th worker at a firm is $25 and that the market wage rate is $15. We know that if this firm operates in perfectly competitive product and labor markets

• the firm's profits would increase if it fired some workers.

• the firm would be more profitable if it hired more workers.

• the firm is paying wages above the minimum wages.

• the firm should use more capital.
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Economics Today: The Micro View
Edition: 19th
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wrote...
2 weeks ago
the firm would be more profitable if it hired more workers.
wrote...
2 weeks ago
Thanks
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