--%>
Assignment Help - homework help

Competitive Profit Maximization in Equilibrium

A profit-maximizing competitive firm hiring by a competitive labor market will be within equilibrium where is: (w) MPP = MRC. (x) w = MRC. (y) VMP = MPP. (z) VMP = w.

Hey friends please give your opinion for the problem of Economics that is given above.

   Related Questions in Managerial Economics

  • Q : Formation of cartels Cheating on

    Cheating on agreements is a common problem along with firms which engage in the formation of: (1) predatory prices. (2) game theory groupings. (3) cartels. (4) pure competition. (5) asymmetric payoffs. Can someone explain/help me w

    		•
  • Q : Hiring more labor in profit maximization

    When a firm hires an additional worker who adds $100 worth of output daily, and adds $50 daily to the firm’s costs, in that case the firm must: (w) hire more labor. (x) hire less labor. (y) not change its employment of labor. (z) sell off some o

    		•
  • Q : Income and Substitution Effects When

    When the income effect of a higher wage rate is extremely powerful in that case the substitution effect, the: (1) supply curve of labor will be positively sloped. (2) demand for leisure increases like income rises. (3) human capital effect is stronger

    		•
  • Q : Illustrates the term Demand Function

    Illustrates the term Demand Function?

    		•
  • Q : Illustrates fundamental characters of

    Illustrates the fundamental characters of human existence given by Lionel Robbins?

    		•
  • Q : Use of Screening Device Screening

    Screening devices used while employers try to stop adverse selection through applicants for positions do not comprise: (1) reviewing résumés to identify applicants’ qualifications. (2) needing non-compete clauses which prevent new

    		•
  • Q : Define the pricing of a new product

    Define the pricing of a new product.

    		•
  • Q : Explain important specific functions of

    Explain the important specific functions of material economics?

    		•
  • Q : Explain the role of demand factor in

    Explain the role of demand factor in pricing briefly.

    		•
  • Q : LEAST probable backward bending supply

    The supply curve of labor is LEAST probable to be “backward bending” for: (1) an individual worker. (2) the economy as a whole. (3) highly specialized industries which are main employers of dedicated PhDs hired only after

    		•