--%>

Maximizes profit by hiring labor

A firm maximizes profit through hiring labor at the point where labor’s: (1) marginal physical product equals its average physical product. (2) marginal revenue product equals its marginal resource cost. (3) rate of exploitation is greatest. (4) wage rate equals the price of output. (5) total revenue is maximized.

How can I solve my Economics problem? Please suggest me the correct answer.

   Related Questions in Managerial Economics

  • Q : Explain Exceptional Demand Curve

    Explain Exceptional Demand Curve.

  • Q : Values of marginal products of the

    Competitive product as well as resource markets yields resource prices and incomes to resource owners that are proportional to the: (1) relative prices of the goods produced. (2) values of marginal products of the resources. (3) distr

  • Q : What is Demand Forecasting What is

    What is Demand Forecasting?

  • Q : What are the levels of Demand

    What are the levels of Demand forecasting?

  • Q : Determine what would contain in

    Please help me to solve the problem of economic that is given below: Economic capital would comprise: (w) corporate bonds. (x) money. (y) machinery. (z) sports cars. Can someone

  • Q : Illustrates about the Barometric

    Illustrates about the Barometric techniques?

  • Q : Determine the demand of auto-market

    Suppose that the auto market began at the intersection of S0 and D0 before people began to expect auto prices to rise in the close to future. How will it influence the auto market?: (1) No change. (2) Demand shifts to D2. (3) Demand sh

  • Q : Explain about leading indices Explain

    Explain about leading indices.

  • Q : Describe why firms may shut down

    If a perfectly competitive firm determines that its market price is below its minimum average variable cost, this will sell: w) the output where marginal revenue equivalents marginal cost. x) any positive output the entrepreneur decid

  • Q : Economic incidence of a tax imposing

    The economic incidence of a tax: (i) identical to its legal incidence. (ii) either forward-shifted to suppliers or backward-shifted to consumers. (iii) imposed on whoever suffers decreased purchasing power because of the tax. (iv) more easily found th