A perfectly competitive firm should hire an additional worker only if а. Total revenue is less than total cost. b. The worker's marginal revenue product is less than the wage rate. The worker's marginal product falls. the worker's marginal product rises. the worker's marginal revenue product exceeds the wage rate. с. d. е.

A perfectly competitive firm should hire an additional worker only if а. Total revenue is less than total cost. b. The worker's marginal revenue product is less than the wage rate. The worker's marginal product falls. the worker's marginal product rises. the worker's marginal revenue product exceeds the wage rate. с. d. е.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose a firm did riveted a useful production technique. We can expect: a. The firm to hire fewer workers b. The firms labour demand curve to shift right c. The firms labour demand to shift left d. The firms labour curve to remain unchanged