QUESTION 6When the marginal revenue product of labor (MRPL) is greater than the wage (W) then:O A. The firm should hire lesslabor to pay minimumO B. The firm should use morecapital to increase the laborproductivitOC The firm should demand morelabors in order to getmaximum profitO D. The firm should use lesscapital and more labors towagepay minimum cost

The marginal revenue product of labor (MRPL) is the incremental revenue that is received by the firm…

QUESTION 6 When the marginal revenue product of labor (MRPL) is greater than the wage (W) then: O A The firm should hire less O B. The firm should use more labor to pay minimum capital to increase the labor productivit OC The firm should demand more labors in order to get maximum profit O D. The firm should use less capital and more labors to pay minimum cost wage

QUESTION 6 When the marginal revenue product of labor (MRPL) is greater than the wage (W) then: O A The firm should hire less O B. The firm should use more labor to pay minimum capital to increase the labor productivit OC The firm should demand more labors in order to get maximum profit O D. The firm should use less capital and more labors to pay minimum cost wage

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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