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Natali5045456 [20]
3 years ago
10

Even when competitive firms are unable to calculate marginal revenue product directly, ______________________________ will push

wage rates toward the marginal revenue product of labor.
Business
1 answer:
Alona [7]3 years ago
8 0

Answer:

Even when competitive firms are unable to calculate marginal revenue product directly, <u>competition in the labor market</u> will push wage rates toward the marginal revenue product of labor.

Explanation:

The labor market is made up of employers seeking for labor and employees offering their labor services. The law of supply and demand also applies to this market, when more employers are seeking employees, the price (= salary) will increase.

For example, if many companies are making a  profit and they need more labor, the salaries will rise because the demand is rising.

Also the suppliers, the potential employees, compete against each other for the best possible jobs.

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General motors’ stand against apartheid in south africa was based upon what came to be known as _____. the human rights moveme
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Forlornistan is a country in the midst of a serious economic downturn. Forlornistan's GDP has declined steadily for over three y
goblinko [34]

Answer:

The correct answer is option c.

Explanation:

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6 0
3 years ago
A convenience store buys 1-gallon jugs of milk for $2.99 and sells them for $4.29. What is the margin they earn on the milk?
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5 0
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Retailing is composed of all of the business activities that add value to the products and services customers buy. This includes
ivolga24 [154]

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