--%>
Assignment Help - homework help

Hiring additional workers exceeds the profit maximization

One purpose that firms hire labor at the point where w is equal to P x MPPL is: (1) if w < P x MPPL, the cost (w) of hiring additional workers exceeds the gains (P x MPPL) of hiring them, therefore they would hire fewer workers. (2) when w > P x MPPL, the cost (w) of hiring additional workers is less than the benefits (P x MPPL) of hiring them, thus they would hire more workers. (3) when w < P x MPPL, the cost (w) of hiring additional workers equals the benefits (P x MPPL) of hiring them, therefore they have the right number of workers. (4) when w > P x MPPL, the cost (w) of hiring additional workers exceeds the benefits (P x MPPL) of hiring them, hence they would hire less workers.

Can someone explain/help me with best solution about problem of Economics...

   Related Questions in Managerial Economics

  • Q : Raise in supply and demand and

    When the supply and demand for a good both raise there will be rising within the: (1) market price. (2) equilibrium quantity. (3) quality of the good. (4) profits of a monopoly firm. (5) level of consumer satisfaction. Hello guys I

    		•
  • Q : What is social cost of production What

    What is social cost of production?

    		•
  • Q : What are the types of price

    What are the types of price discrimination?

    		•
  • Q : Diminishing Returns and Increasing Costs

    I have a problem in economics on Diminishing Returns and Increasing Costs. Please help me in the following question. The concave (or bowed out) production possibilities frontier means that the opportunity costs are: (i) Constant (ii) Increasing (iii)

    		•
  • Q : Equilibrium prices and quantities

    French toast and pancakes and both are close substitutes. Assume that good weather yields a bumper crop of pancakes and decreases the price of pancakes. Into the market for French toast: (1) equilibrium price and quantity both increase.(2) competition increases the su

    		•
  • Q : Illustrates the term variable cost

    Illustrates the term variable cost?

    		•
  • Q : Illustrates the characteristics of

    Illustrates the characteristics of Oligopoly?

    		•
  • Q : Find demand when Supply and Demand

    Suppose that the auto started began at the intersection of S0 and D0, and then Congress passed a main personal income tax cut. So, how will it affect the auto market?: (w) No change. (x) Demand shifts to D2. (y) Demand shifts to D

    		•
  • Q : Illustrates the relatively elastic

    Illustrates the relatively elastic demand?

    		•
  • Q : Minimum supply to specified amounts of

    If the owner of a resource is paid in excess of the minimum needed to supply specified amounts of the resource, in that case the owner is the beneficiary of: (1) economic rents. (2) wage premiums. (3) excess profits. (4) surplus values. (5) capitaliza

    		•