The value of the marginal product of labor is ?

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...

An increase in the demand for apples will cause all but which of the following ?

A. a decrease in the number of apple pickers employed B. an increase in the value of the marginal product of apple pickers C. an increase in the price of apples D. an increase in the wage of apple pickers...

Which of the following is not true with regard to workers who have a high value of marginal product? These workers ?

A. have skills that are in relatively scarce supply B. produce output for which there is great demand C. usually have little capital with which to work D. are usually highly paid...

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

A. the wage, the rental price of capital and the rental price of land are all equal B. the marginal product of labor equals zero and the production function is maximized C. the value of the marginal product of labor equals the wage D. the marginal product of labor equals the wage...

An increase in the price of automobiles shifts the demand for autoworkers to the ?

A. left and decreases the wage B. right and decreases the wage C. right and increases the wage D. left and increases the wage...