--%>
Assignment Help - homework help

Hiring additional workers exceeds the profit maximization

One purpose that firms hire labor at the point where w is equal to P x MPPL is: (1) if w < P x MPPL, the cost (w) of hiring additional workers exceeds the gains (P x MPPL) of hiring them, therefore they would hire fewer workers. (2) when w > P x MPPL, the cost (w) of hiring additional workers is less than the benefits (P x MPPL) of hiring them, thus they would hire more workers. (3) when w < P x MPPL, the cost (w) of hiring additional workers equals the benefits (P x MPPL) of hiring them, therefore they have the right number of workers. (4) when w > P x MPPL, the cost (w) of hiring additional workers exceeds the benefits (P x MPPL) of hiring them, hence they would hire less workers.

Can someone explain/help me with best solution about problem of Economics...

   Related Questions in Managerial Economics

  • Q : How many types are of price elasticity

    How many types are of price elasticity of demand?

    		•
  • Q : Explain the steps for demand estimation

    Explain the steps for demand estimation.

    		•
  • Q : Illustrates definition and meaning of

    Illustrates the definition and meaning of managerial economics?

    		•
  • Q : Illustrates the barometric pricing

    Illustrates the barometric pricing briefly?

    		•
  • Q : Profit price by earning in Human capital

    As per demonstrated in this graph, there average college graduate will earn around: (1) $12,000 yearly. (2) $20,000 yearly. (3) $45,000 yearly. (4) $90,000 yearly. (5) $100,000 yearly.

    Q : Market supply of specialized labor A

    A supply of specialized labor tends to shrink while: (1) the social status of that field rises. (2) an increase in income expectations happens. (3) employment stability increases and training costs decrease. (4) wages rise into a field using similar s

    		•
  • Q : Tax when price elasticity of

    When the ratio of the price elasticity of demand of a taxed good associate to its price elasticity of supply increases, tax is: (w) revenue will fall when tax rates are raised. (x) hikes will cause buyer's total outla

    		•
  • Q : Accurate ranking in most elastic labor

    When we try to list labor supplies from least elastic to most elastic, in that case the most accurate ranking would most likely be: (1) competitive firm, minute industry, highly skilled occupation. (2) economy, skilled occupation, competitive firm wit

    		•
  • Q : Problem regarding the Diminishing

    Assume that you require studying six hours per week to earn a ‘C’, nine hrs a week to earn a ‘B’, and 15 hrs per week to earn an ‘A’. This would mean: (i) Raising returns to hrs studied. (ii) Diminishing returns to hrs studied. (iii

    		•
  • Q : Explain about the signaling Signaling :

    Signaling: (w) attempts to finesse adverse selection. (x) involves behavior by agents to communicate special qualifications which will elicit the offer of a contract from a principal. (y) refers to potential employees obtaining skills, education or ex

    		•