8) The value of the marginal product of any input is equal to the marginal product of that input multiplied by which of the following? A. wage rate B. market price of the output C. additional revenue D. change in total profit 107) Up to what point does a competitive, profit-maximizing firm hire workers? A. where the marginal revenue product equals zero B. where the marginal product equals zero C. where the marginal product equals the wage D. where the value of the marginal product equals the wage
8) The value of the marginal product of any input is equal to the marginal product of that input multiplied by which of the following? A. wage rate B. market price of the output C. additional revenue D. change in total profit 107) Up to what point does a competitive, profit-maximizing firm hire workers? A. where the marginal revenue product equals zero B. where the marginal product equals zero C. where the marginal product equals the wage D. where the value of the marginal product equals the wage
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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I need help with econ multiple hw questions asap!
108) The value of the marginal product of any input is equal to the marginal product of that input multiplied by which of the following?
- A. wage rate
- B. market
price of the output - C. additional revenue
- D. change in total profit
107) Up to what point does a competitive, profit-maximizing firm hire workers?
- A. where the marginal revenue product equals zero
- B. where the marginal product equals zero
- C. where the marginal product equals the wage
- D. where the value of the marginal product equals the wage
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