A firm operates in a perfectly competitive labour market. The table shows the marginal revenue product (MRP) and marginal cost of labour (MCL) for each additional worker employed by this profit-maximising firm. How many units of labour will this firm employ?
A.
1
B.
2
C.
3
D.
4
Exam No：9708_w24_qp_32 Year：2024 Question No：14
Answer:
C
Knowledge points:
8.3.4.1 definition and calculation of marginal revenue product
8.3.4.2 derivation of an individual firm’s demand for labour using marginal revenue product
8.3.5.1 wage and non-wage factors
Solution:
Download APP for more features
1. Tons of answers.
2. Smarter Al tools enhance your learning journey.
IOS
Download
Download
Android
Download
Download
Google Play
Download
Download