A perfect competitive firm will hire workers until the marginal input cost is greater than the marginal product of labor. the value of the marginal product of labor equals wages. the value of the marginal product of labor equals the marginal product of labor. price of output equals wages. marginal product of labor equals zero.

Question

Business

Kaliyah Cherry

20 April, 12:30

A perfect competitive firm will hire workers until the marginal input cost is greater than the marginal product of labor. the value of the marginal product of labor equals wages. the value of the marginal product of labor equals the marginal product of labor. price of output equals wages. marginal product of labor equals zero.

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Answers (1)

Know the Answer?

Catherine Burke · Answer 1

marginal product of labor equals wages

Answer: Option 2.

Explanation:

In Economics, the marginal product of labor is the adjustment in yield that outcomes from utilizing an additional unit of work. It is a component of the creation work, and relies upon the measures of physical capital and work as of now being used.

Marginal product of labor is an estimation of an adjustment in yield when extra work is included. Be that as it may, every other factor stay consistent. To figure negligible result of work you just gap the adjustment in all out item by the adjustment in labor.