Multiple Choice
If the value of the marginal product of labor is less than the wage, then the firm could
A) increase profit by hiring additional labor.
B) increase profit by reducing the amount of labor hired.
C) increase revenue by lowering output.
D) reduce total cost by hiring additional workers.
Correct Answer:
Verified
Correct Answer:
Verified
Q98: The rental price of capital is the
Q102: Scenario 18-1<br>Harry owns a snow-removal business. He
Q152: When an individual's income goes up, that
Q161: Which of the following statements is correct?<br>A)An
Q205: How does increased immigration affect the labor
Q229: Christine works for a firm that makes
Q380: Figure 18-3 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1273/.jpg" alt="Figure 18-3
Q382: The purchase price of capital is<br>A)the value
Q386: Table 18-B<br>Consider the following daily production data
Q387: Consider the market for capital equipment. Suppose