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Marlins0412 Group Title

[03.06] A company will pay workers at a level that maximizes the company costs. taxes. profits. marginal revenue. Question 11 (Multiple Choice Worth 3 points) [03.06] A company will pay workers an amount that minimizes the company costs. profits. liability. revenue. Question 12 (Multiple Choice Worth 3 points) [03.06] Which of the following represents demand in the market for labor? workers. employers. government. entrepreneurs.

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  1. ArbabShah Group Title
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    1st would be marginal revenue as firms produce on Mc=MR Q11 ) it would minimizing COSTS i guess 3rd one is Enterpreneurs

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  2. S2arora Group Title
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    yes .. even i agree 1st will be marginal revenue coz thats the additional revenue the firm will receive by hiring that additional worker and will pay upto the point where the value of his marginal product is equal to the marginal cost. thats why we use the condition, Price * MPL = MC ( wages)

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