Profit Maximization in Labor Markets
Can someone help me in finding out the right answer from the given options. All the profit maximizing firms use labor up to the point where: (1) VMP = MFC. (2) VMP = w. (3) VMP = MRP. (4) MRP = MFC. (5) MR MC is maximized.
Can someone please help me in finding out the accurate answer from the following question. Employer with the monopsony power which as well had the ability to wage discriminate perfectly would tackle a marginal factor cost of labor
Can someone please help me in finding out the accurate answer from the following question. The Extensive fire damage in a neighborhood where almost everyone has fire insurance is an apparent evidence of: (1) Cost inflation in service sector. (2) Ineffective resource a
Shortages take place whenever the market price: (1) Most greatly surpasses the average person’s demand price. (2) Is above the usual seller’s supply price. (3) Equivalents production costs plus the maximum possible gain. (4) Lies beneath t
When a monopolist maximizes profit and charges a price equivalent to average cost, in that case the firm: (i) is producing at the minimum point on its marginal cost curve. (ii) also charges a price equal to marginal cost. (iii) is pro
Immobility of the labor is significant economically as: (1) Most of the people like to move, however cannot. (2) People in high salary occupations won't be completely compensated for the costs and difficulties related with their occupations. (3) It we
Indirect taxes: Whenever the liability to pay tax is on one person and the burden of that tax falls on another person, it is termed as indirect tax. Illustrations are: sales tax, excise duty, VAT, tax on services and so on.
For a gain maximizing competitive firm operating in the competitive labor market, the: (1) Marginal resource cost of the labor is similar to the wage rate. (2) Supply of the labor is perfectly inelastic. (3) Production quota is precisely proportional to the labor hire
The competitive firm will demand more labor when: (i) Technological advances support automation. (ii) The price of firm's output increases. (iii) More firms enter in the industry. (iv) The value of marginal product is beneath the wage rate. (v) Worker
For the purely-competitive cranberry market, as in below figure there Curve H is: (i) industry’s long-run supply curve. (ii) firm’s demand curve in the short run. (iii) industry’s marginal cost curve. (iv) firm’s long run margi
When the income elasticity of market demand is negative, in that case most consumers view the good as: (w) a luxury good. (x) having several imperfect substitutes. (y) an inferior good. (z) a normal good. Hey frien
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