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Author Question: If the wage that a competitive firm must pay its workers exceeds their value of marginal product, ... (Read 65 times)

imanialler

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on: Jun 29, 2018
If the wage that a competitive firm must pay its workers exceeds their value of marginal product, the firm will
 
  A) decrease the quantity of labor it employs.
  B) increase the quantity of labor it employs.
  C) lower the price of the good.
  D) raise the price of the good.

Question 2

Which type of cost is does not change as the quantity of output produced changes?
 
  A) total cost
  B) average cost
  C) fixed cost
  D) marginal cost


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jesse.fleming

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


imanialler

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

dyrone

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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