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lmalma lmalma
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4 years 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

InMicro


Edition: 1st
Authors:
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vande746vande746
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4 years ago
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lmalma Author
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#2
4 years ago
Exactly what I needed for my project, TYSM
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