Multiple Choice
A firm will be hiring labor and capital in profit-maximizing amounts when
A) MRP capital/price of capital equals MRP labor/price of labor.
B) MRP capital/MRP labor equals price of labor/price of capital.
C) MRP capital/price of capital equals MRP labor/price of labor equals 1.
D) the MRP of the last unit hired of both labor and capital are the same.
Correct Answer:
Verified
Correct Answer:
Verified
Q9: As the baby boomers in America grow
Q16: Wage Rate Quantity of Labor Demanded $16
Q21: The equation MPL / PL = MPC
Q50: Suppose the productivity of labor increases and
Q111: Marginal product is<br>A) the output of the
Q120: In percentage terms, which of the following
Q151: A firm will employ more of an
Q173: If the demand for a product produced
Q187: Assume that an appliance manufacturer is employing
Q211: The demand for sewing machine operators is