--%>

Problem on marginal resource cost

Can someone help me in finding out the right answer from the given options.

Despite of the market structures, the firms maximize gain by hiring labor where the: (i) Marginal revenue product = marginal resource cost. (ii) Marginal revenue product = wage rate. (iii) Value of marginal product = wage rate. (iv) Wage rate = marginal resource cost.

   Related Questions in Microeconomics

  • Q : Least probable resource for supply curve

    The resource least probable to conform to the supply curve demonstrated in this figure would be: (w) land. (x) capital. (y) labor. (z) entrepreneurship.

    Q : Higher price at slope of the demand

    When the slope of the demand for wheat is ten, we can predict now that a higher price of wheat will be as: (w) increase total expenditures on wheat. (x) reduce total expenditures on wheat. (y) not influence total expenditures on wheat. (z) More information is required

  • Q : Problem regarding Subjective Prices

    Mike trades 6 vintage baseball cards for the Jake’s original Ty Cobb card. When Mike’s six cards had equivalent total market value with Jake’s Ty Cobb card, then this trade would show: (i) Unfair incentive. (ii) Demand price. (iii) Opportunity cost.

  • Q : Short Run-input of firms cannot be

    I have a problem in economics on Short Run-input of firms cannot be changed. Please help me in the following question. In short run, the firm: (i) Can change any input. (ii) Can’t change any input. (iii) Cannot change the output. (iv) Has at lea

  • Q : Demand curve for physical economic

    The demand curve for physical economic capital based most directly onto the: (w) extent of previous automation. (x) willingness of savers to create investment funds available. (y) marginal productivity of capital and the price of its output. (z) suppl

  • Q : Problem on average retail price and the

    Table indicate the average retail price of milk and the Consumer Price Index in the year 1980 -1998. 1010_Average</span></p>
                                        </div>
                                        <!-- /comment-box -->
                                    </li>
   
   </td>
	</tr><tr>
		<td>
       
      <li>
                                        <div class=

    Q : Output produces by monopolistic

    This monopolistic competitor generates Q0 output where is: (1) MR = MC. (2) MSB > MSC. (3) average cost is not minimized. (4) P = ATC. (5) All of the above.

    Q : Decreasing price of Complementary Goods

    The increase in demand for tartar sauce would be a probable result of: (1) A reduction in the price of fish. (2) An raise in the price of tartar sauce. (3) A bumper crop of the tartar sauce. (4) A raise in the price of fish. (v) The reduction in price

  • Q : Perfectly price inelastic and price

    A vertical demand curve (when one existed) would be ____________ _____________ during its entire range when a horizontal demand curve is ____________ ____________: (w) relatively price inelastic; perfectly price inelastic (x) perfectly price elastic; perfectly price i

  • Q : Expectations in market demands for

    Present market demands for most of the durable goods tend to rise if: (1) Their prices are predicted to rise in the near future. (2) Consumers expect growth in supplies of substitutes. (3) Technological advances make present models obsolete. (4) The p