Ask Question
BusinessBusiness
13 May, 20:43

A profit maximizing firm that has labor as the only variable factor of production has a demand curve that is

a. equal to the marginal product of labor

b. equal to the marginal revenue product of labor

c. equal to the average product of labor

d. equal to the marginal cost of production

+3
Answers (2)
  1. 13 May, 21:04
    0
    Answer: Option B - - equal to the marginal revenue product of labor

    Explanation: it should be noted that, when one firm uses only one variable factor of production, that factor's marginal revenue product curve is the firm demand curve. Therefore, other options, which are "equal to the marginal product of labor", "equal to the average product of labor" and "equal to the marginal cost of production" are wrong
  2. 13 May, 21:12
    0
    B) Equal to the marginal revenue product of labor

    Explanation:

    A profit maximizing firm looks out basically for the additional revenue that will be generated by increasing product sales by one unit. That is to say for every labor put into production an expected return revenues are been incured on them.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A profit maximizing firm that has labor as the only variable factor of production has a demand curve that is a. equal to the marginal ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Marti had an unexpected surprise when she ate her Lotsa Good cereal this morning. She found a piece of metal mixed in her cereal. The potential claim that Marti has against this firm is that of a (n) : A. general creditorB. debtholderC. shareholderD.
Answers (1)
Natural disasters: Suppose a large earthquake destroys many houses and buildings on the West Coast but fortunately results in little loss of life. Show how to think about this event using the IS curve.
Answers (1)
In double-entry bookkeeping, what goes in the left
Answers (1)
An article in the Economist about Venezuela stated: "The economy is in such an appalling state, and inflation is so high, that Venezuelans greeted a rise of 60% in the minimum wage on May 1st with shrugs of 'so what?'.
Answers (1)
A perfectly competitive orchard that produces 500 lbs of apples in the short run has an ATC = $10 and AFC = $8. The market price is $4 per lb and is equal to MC. In order to maximize profits (or minimize losses) in the short-run, this farm should:
Answers (1)
New Questions in Business
a risk averse investor, which of the following four otherwise identical investment would you prefer? A. Security W, which exhibits a standard deviation of 2% and offers an average return of 12%. B.
Answers (1)
n a company's merit pay program, an individual's compa-ratio represents the individual's pay relative to company's average pay for that position. the individual's worth versus that of others in the organization.
Answers (1)
Some interview questions are designed to rattle you to see how you deal with stress. True or false.
Answers (2)
Organizational culture consists of three levels: Select one: a. assumptions, orientations, and beliefs. b. beliefs, values, and artifacts. c. artifacts, assumptions, and beliefs. d. assumptions, artifacts, and values.
Answers (1)
What term refers to a set amount of money kept in the cash register to make change with? A. Excess cash B. Standard cash stock C. Cash drop D. Cash float
Answers (1)
Home » Business » A profit maximizing firm that has labor as the only variable factor of production has a demand curve that is a. equal to the marginal product of labor b. equal to the marginal revenue product of labor c. equal to the average product of labor d.
Sign Up Forgot Password?