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Home Q & A Board Other Fields Homework Help Business Economics
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Ryanteck Ryanteck
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6 years ago
Liuʹs Potato Chips is a perfectly competitive firm currently employing 30 workers. The marginal revenue product of the 30th worker is $7.00 per hour. The wage rate is $8.00 per hour. To increase profits, this firm should
A) increase the price of potato chips so that the marginal revenue product increases to $8.00 per hour.
B) increase employment until the MRP of labor equals $8.00.
C) continue hiring 30 workers because the firm earns a surplus of $1.00 on each worker hired.
D) decrease employment until the MRP of labor equals $8.00.
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DeToXiFYDeToXiFY
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6 years ago
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Ryanteck Author
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6 years ago
Good timing, thanks!
Lourd Jenkins
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Yesterday
Helped a lot
kater28
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2 hours ago
Smart ... Thanks!
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