Multiple Choice
Which of the following is true?
A) The value of marginal product equals the price of the good produced divided by the marginal product.
B) The value to a firm of hiring another worker is the worker's value of marginal product.
C) A firm will hire more workers if the wage rate is greater than the value of marginal product.
D) The value of marginal product is the cost of hiring a worker.
E) The value of marginal product increases as more workers are hired.
Correct Answer:
Verified
Correct Answer:
Verified
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