Costs of firm by adding revenue in them

When the last worker hired adds extra to the firm’s revenue in that case to the firm’s cost: (w) hiring the last worker causes profit to rise. (x) hiring the last worker causes profit to fall. (y) the firm should stop hiring workers. (z) marginal resource cost is decreasing.

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

View Complete Question

Related Questions in Managerial Economics

Q : Labor Supply Curves to Competitive Firms

A price taker within the labor market: (w) can set the wage that this will pay for the labor this hires. (x) can set the wage at which this will supply the use of its labor. (y) doesn’t care what wage this pays or receives. (z) can’t influ

Q : Define the term opportunity cost concept

Define the term opportunity cost concept.

Q : Income Effects and Substitution Effects

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

Q : Marginal Product of Labor in Firm If

If this firm maximizes profit, this will be producing under circumstances of: (1) increasing returns to labor. (2) economies of scale. (3) diminishing returns to labor. (4) constant returns to labor. (5) adverse selection and moral hazard.

Q : Definition of Managerial economics

Describes the definition of Managerial economics according to Douglas?

Q : Derived Demand for Labor All else

All else identical, a competitive firm will demand more labor when: (w) technological advances lead to automation. (x) the price of the firm’s output rises. (y) more firms enter the industry. (z) competing firms offer their workers more training

Q : Saving of production costs attributable

The rental value of a high quality piece of agricultural land timely era is: (w) negatively associated to the price of agricultural output this could produce. (x) unrelated to the costs of its cultivation. (y) equal to the saving of production costs a

Discover Q & A

Leading Solution Library

Avail More Than 1457202 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1947936
Asked

3,689

Active Tutors

1457202

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment