--%>

Marginal revenue productivity

When the marginal revenue product of the last worker hired is superior to the marginal resource cost of the worker, in that case the firm: (w) is experiencing increasing returns to scale. (x) can increase its profits by hiring more labor. (y) is maximizing profit. (z) must fire some workers to increase profit.

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

   Related Questions in Managerial Economics

  • Q : Social Welfare and Efficiency on Labor

    Inefficiency may exist within a labor market while a firm only hires labor up to a certain point where: (w) the value of labor’s marginal product equals the wage rate. (x) VMP > MRC. (y) MPPL = w/P. (z) the last unit of labor adds as much to

  • Q : Illustrates the factors affecting

    Illustrates the factors affecting Demand Forecasting?

  • Q : Illustrates the meaning of Demand

    Illustrates the meaning of Demand?

  • Q : Introduction of the term Marginal

    Provide a brief introduction of the term Marginal Costing? And also write down the essential suppositions made by Marginal Costing?

  • Q : Profit Maximization in Labor Market and

    As a firm is a pure competitor in both the labor market and during the sale of its product, this will hire labor where: (w) profit is maximized. (x) marginal revenue product = marginal resource cost. (y) wage = value of the marginal product. (z) All o

  • Q : Technology advances in Economic Growth

    Can someone help me in finding out the right answer from the given options. The production possibilities frontier enlarges if: (i) The economy approaches full and proficient employment. (ii) Technology progress. (iii) Society's net demand for output i

  • Q : Differentiates between short run and

    Differentiates between short run and long run costs?

  • Q : Wage Rates and Employment An increase

    An increase in the competitively-set wage tends to cause: (w) firms to reduce the amounts of labor hired. (x) increases in the marginal revenue products of the workers a firm retains. (y) higher marginal factor costs of labor to competitive firms. (z)

  • Q : Offsets the amount of revenue to added

    Profit maximizing firms will adjust their employment of labor till the last employee hired adds: (w) more to the firm’s revenue than this adds to cost. (x) more to the firm’s cost than this adds to the firm’s revenue. (y) an amount o

  • Q : Demand for labor in purely competitive

    When the hourly wage rate for workers this purely competitive firm hires is approximately of $13, this will operate at: (1) point a. (2) point b. (3) point c. (4) point d. (5) point e.

    Discover Q & A

    Leading Solution Library
    Avail More Than 1422034 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads
    No hassle, Instant Access
    Start Discovering

    18,76,764

    1951544
    Asked

    3,689

    Active Tutors

    1422034

    Questions
    Answered

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

    Submit Assignment

    ©TutorsGlobe All rights reserved 2022-2023.