Author Question: According to the classical model, workers chose a level of labor that equates the a. real wage ... (Read 115 times)

audragclark · **on:** Jun 30, 2018

According to the classical model, workers chose a level of labor that equates the

a. real wage and marginal product of labor.
b. nominal wage and marginal product of labor.
c. the marginal utility of consumption and the marginal disutility of lost leisure.
d. the marginal utility of consumption with the real wage.

Question 2

The goal of the representative firm is to

A) hire as much labor as possible.
B) maximize revenue.
C) minimize labor costs.
D) maximize profits.