Point of hiring labor for profit maximizing

The entire profit maximizing firm will hire additional labor up to the point where the: (i) Average physical product of the labor equivalents the nominal wage. (ii) Last unit of labor adds equally to net revenue and net cost. (iii) Marginal product of the labor is at its highest value. (iv) The value of output most greatly surpasses labor's marginal factor cost.

Find out the right answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Jollies gained-Production occurs I have

I have a problem in economics on Jollies gained-Production occurs. Please help me in the following question. The jollies gained whenever production takes place do not comprise utilities of: (i) Form. (ii) Possession. (iii) Place. (iv) Substance. (v) T

Q : Shifting of labor demand for Labor The

The labor demand will shift due to the modifications in all of the given except: (1) Prices of other resources. (2) Prices of the output. (3) MPP (4) Salaries. Can someone please help me in finding out the accurate answer from the

Q : Integrity and humanitarianism in

The economic system which depends associatively the least for its effectiveness and overall success on honesty and of members of economically and socially most elite groups in the system are nearly certainly: (1) Oligarchintegrity and hum

Q : Effects of high probability of

Since of the high probability of bankruptcy and default of a latest corporation, new corporations: (i) Encompass little trouble selling bonds. (ii) Would prefer to the issue stock. (iii) Encompass more trouble selling bonds than the established corporations. (iv) Woul

Q : Measure Liquidity An asset’s associate

An asset’s associate “liquidity” is inversely measured through the: (w) transaction costs in dealing within the asset as a proportion of the market price of the asset. (x) time it takes to convert this to cash. (y) “backing&rdq

Q : Burgeoning probably interest rate The

The interest rate will most likely rise when: (1) households decide to delay consumption, causing the loanable funds accessible for business investments to raise. (2) investors become more optimistic into relation with the profitability of investment.

Q : Effect of higher price for normal good

Let consider the law of demand. The idea that the higher price for a normal good will outcome in less of good being purchased never based logically on the: (1) Income effect, by which the higher price decreases the purchasing power of the income. (2) Demand for good f

Q : Problem on decline in demand function

In the month of January, Disney World in Florida cut its ticket prices into half and starts letting all kids beneath age five without charge. The economic forecaster might reasonably expect: (1) A decline in demand for the tickets to Disney Land in California. (2) A r

Q : Experience of mill for constant cost

When generic lumber processing is a constant cost industry, within the long run this lumber mill is probable to experience a: (i) a severe shrinking of economic profit to zero. (ii) a decline within the price of 2×4s to about $2.40 apiece. (iii)

Q : Problem on Normal and Inferior Goods

Lobster is a normal good and peanut butter is a poorer good. When your income increases, you will most likely consume: (1) More of both the goods. (2) More lobster and less peanut butter. (3) More peanut butter and less lobster. (4) Less of both goods.

Discover Q & A

Leading Solution Library

Avail More Than 1420747 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1947290
Asked

3,689

Active Tutors

1420747

Questions
Answered

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

Submit Assignment