--%>
Assignment Help - homework help

Hiring labor for Profit Maximization

When the marginal revenue product of the very last worker hired is more than the marginal resource cost of the worker, then the firm: (1) Is experiencing rising returns to the scale. (2) Can raise its gains by hiring more labor. (3) Is maximizing the profit. (4) Must suspend some workers to raise the profit.

Choose the right answer from the above options.

   Related Questions in Microeconomics

  • Q : Relatively price elastic demand for

    If a change in the supply of a good results within a percentage change into quantity demanded which exceeds within absolute value the percentage change within price, in that case demand is relatively: (i) price elastic. (ii) inferior. (iii) normal. (i

    		•
  • Q : Least likely example of Substitution

    Can someone please help me in finding out the accurate answer from the following question. Assume that the War in Iraq spilled over into another oil exporting countries. When U.S. gasoline prices rose to, state, $10 per gallon, the least likely outcome would be that:

    		•
  • Q : Economic good becomes an economic bad

    Economic good becomes an economic bad whenever consumption is expanded into an area where: (1) Marginal returns are reducing. (2) Sellers experience an honest hazard. (3) Marginal utility is negative. (4) Buyers suffer from unfavorable choice. (5) Exc

    		•
  • Q : Income Distribution in Lorenz Curve

    When line 0D0' represents the 1929s U.S. income distribution and line 0B0'shows the 1975 income distribution, in that case the 2005 year’s income distribution would be signified by: (i) line 0A0'. (ii) line 0B0'. (iii) line 0C0'. (iv) line 0D0'.

    		•
  • Q : Unionized construction workers The

    The passage of a considerably higher legal minimum wage would be most probable to advantage: (1) Philosophy majors. (2) American high-school drop-outs in their teens. (3) Foreign workers whose manufacture is exported to the United States. (4) Unionized construction wo

    		•
  • Q : Features of Monopoly Features of

    Features of Monopoly: A) A Single seller B) No close replacement available. C) No freedom for entry of new firms. D) Possibility of price discrimination.

    		•
  • Q : Oligopoly and the law An illegal

    An illegal practice from an oligopolistic firm would be: (w) price leadership. (x) direct price collusion with rivals. (y) non-price competition. (z) mutual interdependence in price and output decisions. I need a g

    		•
  • Q : Discrimination and Income Differentials

    By 2000, the differential among the rich and the poor which can be attributed to economic discrimination was computed at: (w) approximately 60 percent. (x) approximately 30 percent. (y) under 10 percent. (z) zero.

  • Q : Price elasticity for quantities and

    Suppose that all these curves are infinitely long straight lines. There supply curve which is relatively (although not perfectly) price elastic for all quantities and prices is: (1) supply curve S1. (2) supply curve S2. (3) suppl

    		•
  • Q : Product differentiation through

    Firms are not only trying to differentiate their products within the minds of consumers while: (1) main networks launch comparable programs to mimic successful “reality TV” shows. (2) beer advertisers feature wild parties in TV advertisements. (3) a deterg

    		•