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Svetradugi [14.3K]
3 years ago
13

In a purely competitive labor market, a profit-maximizing firm will hire labor up to the point where the marginal revenue produc

t of labor equals the:
Business
1 answer:
svlad2 [7]3 years ago
5 0
<span>In a purely competitive labor market, a profit-maximizing firm will hire labor up to the point where the marginal revenue product of labor equals the revenue product equals the cost of hiring an extra worker. In purely competitive market there are a lot of companies producing a standardized product. The prices of the product are determined by the consumer demand of the product and the supplier is not allowed to decide the price. </span>
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It's called a business subscription model.
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3 years ago
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Emily works in the stockroom at a retail store for $10/hour on Saturdays. The store is within near walking distance of her home.
frosja888 [35]

Answer:

Correct options

A.) the $4 in direct costs she would spend to drive to and from her babysitting job:

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B.) the opportunity costs of not working at the store on a Saturday when she babysits:

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Incorrect option

C.) the cost of clothes and personal items (e.g., phone) Emily uses during babysitting:

On both jobs Emily will incur cost of clothing and other personal items, so this is not a cost she should be considering in making a decision between the two jobs.

4 0
2 years ago
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Nimfa-mama [501]

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All of the other options are always included in a business plan to assess the feasibility of the venture.

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2 years ago
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During the industrial revolution, high population growth in great britain, combined with intensive use of raw materials from the
maks197457 [2]
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