« previous next »

Author Question: A firm in a competitive labor market will hire labor until the value of marginal product of labor ... (Read 148 times)

bclement10

  • Hero Member
  • *****
  • Posts: 560
on: Jun 29, 2018
A firm in a competitive labor market will hire labor until the value of marginal product of labor equals the
 
  A) firm's marginal revenue.
  B) firm's marginal cost.
  C) firm's average cost.
  D) wage rate.

Question 2

A group of firms that has entered into a collusive agreement to restrict output and increase prices and profits is called
 
  A) a compliance.
  B) a cartel.
  C) an oligopoly.
  D) a duopoly.


Sarahjh

  • Sr. Member
  • ****
  • Posts: 370
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
North Korea: Labor Issues North Korea: Labor Issues
Effects of competitive inhibition on enzyme kinetics Effects of competitive inhibition on enzyme kinetics
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
To find the derivative use product rule To find the derivative use product rule
An educational institution has total direct labor and material costs of $1964 per student. Its ... An educational institution has total direct labor and material costs of $1964 per student. Its ...
Video: Embryonic development - week 1 and 2

For a complete list of videos, visit our video library