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Author Question: The marginal revenue product of labour is (Read 36 times)

abc

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on: May 25, 2020

Question 1

In a competitive labour market, firms will hire labour up to the point where the marginal revenue product of labour equals
◦ the marginal product.
◦ total labour cost.
◦ the price of the product.
◦ the wage rate.

Question 2

The marginal revenue product of labour is
◦ the additional revenue the firm makes by hiring out one unit of labour.
◦ the additional profit a firm earns by employing one additional unit of labour.
◦ the marginal product of capital times the price of labour.
◦ the additional revenue a firm earns by employing one additional unit of labour.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by abc on May 25, 2020

Anna

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Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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abc

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Reply 2 on: May 25, 2020
YES! Correct, THANKS for helping me on my review

Zebsrer

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Reply 3 on: Yesterday
Excellent

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