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Kipish [7]
2 years ago
15

An employer hiring in a competitve labor market should hire additional labor as lnog as?

Business
1 answer:
dybincka [34]2 years ago
4 0

An employer hiring in a competitive labor market should hire additional labor as long as the marginal revenue product (MRP) exceeds the wage rate.

Marginal revenue product (MRP), also called the marginal fee product, is the marginal sales created due to an addition of 1 unit of resource. The marginal sales product is calculated via multiplying the marginal physical product (MPP) of the useful resource through the marginal sales (MR) generated.

How do you calculate marginal revenue product made from labor?

The marginal revenue product fabricated from a worker is equal to the fabricated from the marginal fabricated from exertions (MPL) and the marginal revenue (MR) of output, given with the aid of MR×MPL = MRPL.

Why is marginal revenue product vital?

Marginal revenue product (MRP) explains the additional revenue generated by means of adding an additional unit of manufacturing resource. it's miles an important idea for determining the demand for inputs of production and analyzing the most advantageous amount of a useful resource.

Learn more about marginal revenue product  here:-brainly.com/question/13444663

#SPJ4

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There can be a moral hazard at which one party's policies may modify to the disadvantage of someone else after a business transaction has occurred. Moral hazard may arise through a type of asymmetric information in which the threat-taking group to trade is more aware of its motives than the person bearing the risk's implications.

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Answer:

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3 years ago
suppose the returns on long term corporate bonds and T-bills are normally distributed. Based on the values below answer the foll
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Answer:

32.35% ( the probability that in any given year, the return on long-term corporate bonds will be greater than 10 percent )

Explanation:

Given data for long-term corporate bonds

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P( x > 10% ) = 1 - P(x<10%) = 1 - NORM-DIST (10,6.2,8.3,TRUE ) = 0.3235

= 32.35%

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