Asked by Mayesha Tanjeen on Jun 29, 2024
Verified
The curve that indicates how many workers a firm will hire at different wages is the factor's
A) supply curve.
B) marginal cost curve.
C) marginal revenue product curve.
D) marginal product curve.
Marginal Revenue Product Curve
A curve showing the additional revenue generated by employing one more unit of a resource, assuming all other factors are constant.
- Grasp the concept of the factor's supply and demand curve in the labor market.
Verified Answer
SV
Shivam VaishJun 30, 2024
Final Answer :
C
Explanation :
The curve that indicates how many workers a firm will hire at different wages is the factor's marginal revenue product curve. This curve reflects the additional revenue a firm earns from hiring one more unit of labor, considering the wage rate.
Learning Objectives
- Grasp the concept of the factor's supply and demand curve in the labor market.
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