Because the value of marginal product diminishes as the quantity of labor employed increases, the ________ the wage rate, the ________ workers the firm hires.
A) lower; more
B) higher; more
C) lower; fewer
D) None of the above answers is correct because there is no relationship between the wage rate and the number of workers hired.
Question 2
The above figure is for a firm in monopolistic competition. The diagram represents the short run rather than the long run because the
A) MR curve cuts the ATC curve from below.
B) MR curve and the D curve do not coincide.
C) firm is incurring an economic loss.
D) firm is making an economic profit.
Species richness increases with island size.
North Korea: Labor Issues
North Korea: Labor Issues
Overallocation of Labor to Sector 1
Use the product rule to find derivative
Excel hardware is introducing a new product on a new product line of capacity 800 units per ...