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With a linear production function in labor only, which of the following must be true?

Ao9

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Posts: 1908

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8 years ago

With a linear production function in labor only, which of the following must be true?

With a linear production function in labor only, which of the following must be true?
A) The representative household works as much as possible.
B) The real wage equals total factor productivity.
C) The representative firm makes large profits.
D) The marginal product of labor exceeds the real wage.

Textbook

Macroeconomics

Macroeconomics

Edition: 5^th

Author: Williamson

Read 125 times

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Gordis

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Posts: 1906

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8 years ago

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Ao9 Author

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#2

8 years ago

Wow!!

Gordis

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#3

8 years ago

Glad to help...

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