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lmalma lmalma
wrote...
Posts: 359
A week ago

Question 1.

A firm should hire more workers to increase its profits if



there is enough capital and other resources for the workers to use.



the wage rate is less than the marginal revenue product of labor.



the marginal product of labor is greater than the wage the firm will pay these workers.



the demand for labor is elastic.



Question 2.

The demand curve for labor is also



the demand curve for the output produced with labor since the demand for labor is a derived demand.



the marginal revenue product of labor curve.



the marginal product of labor curve.



the supply curve for the output labor is used to produce.

Textbook 

InMicro


Edition: 1st
Authors:
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vande746vande746
wrote...
Posts: 310
Rep: 8 0
A week ago
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Answer 1

the wage rate is less than the marginal revenue product of labor.



Answer 2

the marginal revenue product of labor curve.

1

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wrote...
A week ago
Exactly what I needed for my project, TYSM
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