--%>
Assignment Help - homework help

Social Welfare and Efficiency on Labor Markets

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 total revenue as this adds to cost.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

   Related Questions in Managerial Economics

  • Q : Consumer Interview Survey method of

    Explain the Consumer Interview Survey method of Demand Forecasting.

    		•
  • Q : States the Demand Forecasting in terms

    States the Demand Forecasting in terms of production?

    		•
  • Q : Explain the Expenditure Method of

    Explain the Expenditure Method of Measurement of Elasticity.

    		•
  • Q : Lower Wage Differentials in Occupation

    If all else regarding two occupations are relatively equal, then wages tend to be lower for jobs which: (1) require important education and training. (2) expose the worker to bad weather. (3) require extended periods away from home. (4) pose health and safety hazards

    		•
  • Q : Examples of Economic Capital

    Landscaping a garbage dump along with topsoil, grass and trees to construct a golf course is an illustration of creating new: (i) capital. (ii) land. (iii) employment. (iv) economic profits. (v) natural resources. Please guys help

    		•
  • Q : When is our society possibly operating

    Our society is possibly operating inefficiently when: (w) we could grow more pecans by producing fewer walnuts. (x) asthmatics would gain when all pollution were removed. (y) whole medical costs would be lower and people would be healthier when we dev

    		•
  • Q : Competitive Profit Maximization in

    A profit-maximizing competitive firm hiring by a competitive labor market will be within equilibrium where is: (w) MPP = MRC. (x) w = MRC. (y) VMP = MPP. (z) VMP = w. Hey friends please give your o

    		•
  • Q : Saving of production costs attributable

    The rental value of a high quality piece of agricultural land timely era is: (w) negatively associated to the price of agricultural output this could produce. (x) unrelated to the costs of its cultivation. (y) equal to the saving of production costs a

    		•
  • Q : Illustrates the Objectives of

    Illustrates the Objectives of managerial economics?

    		•
  • Q : Less elastic demand for a resource At

    At any price of, the demand for a resource is fewer elastic the: (w) easier this is to substitute other resources for this. (x) harder this is to substitute other resources for this. (y) more elastic the demand for the output this produces. (z) greate

    		•