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Author Question: If MRPlabor/MRClabor > MRPcapital/MRCcapital, then the firm should a. hire more labor b. ... (Read 47 times)

SAVANNAHHOOPER23

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  • Posts: 542
on: Jun 30, 2018
If MRPlabor/MRClabor > MRPcapital/MRCcapital, then the firm should
 a. hire more labor
  b. substitute capital for labor
  c. not change anything
  d. buy more capital
  e. decrease the amount of labor

Question 2

If the marginal productivity of labor was the sole determinant of household income in the U.S., then
 a. no households would be poor according to the official government definition of poverty
  b. no households would be poor according to a relative definition of poverty
  c. the distribution of income would be unequal
  d. every household would have sufficient income to meet biological needs
  e. there would be no need for government programs to redistribute income


ngr69

  • Sr. Member
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  • Posts: 318
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

C


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