--%>
Assignment Help - homework help

Social Welfare and Efficiency on Labor Markets

Inefficiency may exist within a labor market while a firm only hires labor up to a certain point where: (w) the value of labor’s marginal product equals the wage rate. (x) VMP > MRC. (y) MPPL = w/P. (z) the last unit of labor adds as much to total revenue as this adds to cost.

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

   Related Questions in Managerial Economics

  • Q : Illustrates the term economic cost

    Illustrates the term economic cost concept briefly?

    		•
  • Q : Technology advances in Economic Growth

    Can someone help me in finding out the right answer from the given options. The production possibilities frontier enlarges if: (i) The economy approaches full and proficient employment. (ii) Technology progress. (iii) Society's net demand for output i

    		•
  • Q : Occurrence of General Training General

    General training occurs while a: (w) secretary learns a new office procedure. (x) handyman learns to drive a semi-truck. (y) messenger learns the company’s in-house mail route. (z) navy recruit learns how to repair a guided missile.

  • Q : Capital and Wage Differentials Relative

    Relative to evenly strong, smart, and hard-working people along with less education, and the high school graduates who invest most heavily within more advanced formal education are probable to experience lower average: (w) wages when first entering th

    		•
  • Q : Screening and Credentialism Critics of

    Critics of “credentialism” believe which firms making employment decisions tend to rely much heavily on: (1) personal contacts. (2) past experience. (3) personality testing. (4) job interviews. (5) formal training and education.

  • Q : Dominates substitution effect by wage

    The income effect of a small varies in the wage rate dominates the substitution effect for this worker at point: (w) point a. (x) point b. (y) point c. (z) point d.

    Q : Illustrates the pricing policy and

    Illustrates the pricing policy and practices?

    		•
  • Q : What are differences between

    What are the differences between differential cost and explicit cost?

    		•
  • Q : What are the main features of

    What are the main features of managerial economics?

    		•
  • Q : Define Cost Volume-Profit relationship

    Describe briefly Cost Volume-Profit relationship?

    		•