Figure 18-5 The Figure Shows a Particular Profit-Maximizing, Competitive Firm's Value-Of-Marginal-Product (VMP)

question 193

Multiple Choice

Figure 18-5
The figure shows a particular profit-maximizing, competitive firm's value-of-marginal-product (VMP) curve. On the horizontal axis, L represents the number of workers. The time frame is daily.
-Refer to Figure 18-5. The firm would choose to hire three workers if

• A)the market wage for a day's work is $220.
• B)the market wage for a day's work is $260.
• C)the output price is $220.
• D)the output price is $260.

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