--%>
Assignment Help - homework help

Profit Maximization with Marginal Revenue Price and Costs

All profit-maximizing firms will hire further labor up to the point where is the: (w) average physical product of labor equals the nominal wage. (x) last unit of labor adds equally to total revenue and total cost. (y) marginal product of labor is at its maximum value. (z) value of output most greatly exceeds labor’s marginal resource cost.

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

   Related Questions in Managerial Economics

  • Q : Marginal Factor or Resource Costs The

    The words “marginal factor costs” or “marginal resource costs” taken as to the: (w) extra cost involved in producing an additional resource. (x) extra cost involved while producing an additional unit of a resou

    		•
  • Q : Labor Supply Curves to Competitive Firms

    A price taker within the labor market: (w) can set the wage that this will pay for the labor this hires. (x) can set the wage at which this will supply the use of its labor. (y) doesn’t care what wage this pays or receives. (z) can’t influ

    		•
  • Q : Decreases in derived demands Decreases

    Decreases in derived demands are best demonstrated while: (1) illegal aliens reduce equilibrium wage rates for unskilled workers. (2) swim suit sales plummet at the ends of summer vacations. (3) undocumented construction workers begin leaving the Unit

    		•
  • Q : Marginal resource cost to hiring Hulk

    Hulk counsels five clients at a time within exercise groups at Beefcake Body Builders. Hulk hourly wage is $17, and also Beefcake charges Hulk’s clients $20 for every hour-long fitness session. When fitness counselors are hired from competitive labor mar

    		•
  • Q : What are the Methods of Demand

    What are the Methods of Demand Forecasting?

    		•
  • Q : Illustrate Screening by Asymmetric

    Insistence by a potential employer which job applicants submit a résumé is an illustration of: (1) networking. (2) screening. (3) signaling. (4) bragging. (5) qualifying. Please choose the right answer from above...I

    		•
  • Q : Value of the Marginal Product and

    When a firm is a price taker in the sale of its product, in that case labor’s: (w) ARP (Average Revenue Product) = MRP. (x) ARP = VMP. (y) VMP > MRP. (z) VMP = MRP. Can someone explain/help me with best so

    		•
  • Q : Pure economic rents Pure economic rents

    Pure economic rents for different parcels of land do not reflect differences within their: (1) marginal productivities. (2) fertility. (3) quantities of valuable minerals and ores. (4) amounts of capital improvements. (5) relative capability to reduce

    		•
  • Q : Human Capital and the Demand for Labor

    Investment in human capital is not essentially involved while: (w) people acquire and sharpen new productive skills. (x) a person attends college and learns engineering. (y) a person jogs to stay in shape. (z) the marginal productivity of labor increa

    		•
  • Q : Illustrates the term shot run

    Illustrates the term shot run production function?

    		•