When the marginal revenue product of labor (MRPL) is greater than the wage (W) then: A. The firm should hire less labor to pay minimum wage O B. The firm should use more capital to increase the labor productivit OC. The firm should demand more labors in order to get O D. The firm should use less capital and more labors to pay minimum cost maximum profit

The marginal product of labor is the change in revenue resulting from an additional unit of labor.…

Answered: When the marginal revenue product of labor (MRPL) is greater than the wage (W) then: A. The firm should hire less labor to pay minimum wage O B. The firm should…

ENGR.ECONOMIC ANALYSIS

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ISBN: 9780190931919

Author: NEWNAN

Publisher: Oxford University Press

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