Assume that for the last worker hired mpl4 mr2 and w4 and, Ask an Expert

Economics

Assume that for the last worker hired MPL=4, MR=2, and W=4, and if one more worker is hired MPL=3, MR=2, and W=4. Given this information, the firm

(a) should decrease employment

(b) should increase employment

(d) without information on the marginal revenue product, it is impossible to say what the firm should do.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91707396

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