A competitive profit-maximizing firm should hire workers up to the point where ?

Related Mcqs:

The most important factors of production are ?

A. labor, land, and capital B. water, earth and knowledge C. money, stocks and bonds. D. management finance and marketing...

The value of the marginal product of labor is ?

A. the price of the output times wage of labor B. the price of the output times the marginal product of labor C. none of these answers D. the wage of labor times the quantity of labor E. the wage of labor times the marginal product of labor...

For a competitive profit-maximizing firm, the value-of-the-marginal-product curve for capital is the firm’s ?

A. supply curve of capital B. demand curve for capital C. production function D. marginal cost curve...

What will a decrease in the supply of fishermen do to the market for capital employed in the fishing industry ?

A. increase the demand for fishing boats and decrease rental rates on fishing boats B. decreases the demand for fishing boats and increase rental rates on fishing boats. C. decreases the value of the marginal product of fishermen, reduces their wage, and increases employment in the fishing industry D. increase the demand for fishing boats … What will a decrease in the supply of fishermen do to the market for capital employed in the fishing industry ?Read More...

A decrease in the supply of farm tractors will cause all but which of the following ?

A. an increase in the rental rate for tractor B. a decrease in the rental rate of farmland C. a decrease in the value of the marginal product of tractors D. an increase in the wage of farm workers...