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.

View Complete Question

Related Questions in Microeconomics

Q : Tourism effects How tourism effects in

How tourism effects in an upcoming industry?

Q : Capital Goods In the above diagram, the

In the above diagram, the elimination of discrimination is best represented by

Q : Problems on leftward shift of demand

Whenever kids abandon a short-lived fad for Dinosaur action figures, this would be exhibited by the: (1) Left-ward shift of demand curve. (2) Right-ward shift of supply curve. (3) Right-ward shift of demand curve. (4) Left-ward shift of supply curve. (5) Movement down

Q : Reduction in the purchasing power of

The income effect of a price rise for the normal good: (i) Needs a reduction in the purchasing power of your income, that helps in elucidating why demand curves are negatively sloped. (ii) Forces faster adjustments than when the good was inferior and

Q : Reallocation of resources-Government

Describe the Reallocation of resources objective of the government budget.

Q : Perfectly inelastic demand problem When

When will an augment in supply entail a raise in price however no change in quantity?

Q : Linear demand curves and elasticity

When price falls and quantity rises along a negatively-sloped linear demand curve: (1) total revenues fall till elasticity equals zero, then this rises. (2) demand is decreasingly price elastic. (3) there is a contrad

Q : Value of Nonhuman Wealth The most

The most unequally variable distributed for U.S. data would most likely be: (1) pre-tax and pre-transfer incomes 1929. (2) incomes after taxes and transfers 1975. (3) the value of nonhuman wealth 2005. (4) incomes after taxes and transfers 2005. (5) incomes before tax

Q : What is the revenue of a firm Revenue

Revenue of a firm: It is the sale or money receipts from the sale of product.

Q : Estimate total fixed costs for

Total fixed costs for such profit-maximizing firm equivalent: (1) 0bcq1. (2) 0adq2. (3) 0Peq2. (4) aPed. (5) Can't be measured in illustrated figure.

Discover Q & A

Leading Solution Library

Avail More Than 1437143 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1933043
Asked

3,689

Active Tutors

1437143

Questions
Answered

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

Submit Assignment