Author Question: The quantity of labor demanded by the firm is such that the A) wage rate equals the marginal ... (Read 104 times)

K@ · **on:** Jun 29, 2018

The quantity of labor demanded by the firm is such that the

A) wage rate equals the marginal cost.
B) wage rate equals the value of marginal product of labor.
C) wage rate equals the marginal product of labor.
D) marginal revenue equals the marginal product.

Question 2

Small pizza parlors exist in just about every town. Anyone can open a pizza parlor, and the pizzas from one parlor typically have different tastes and sizes than pizzas from another parlor. Thus, the pizza industry is an example of

A) perfect competition.
B) monopoly.
C) oligopoly.
D) monopolistic competition.