Even When Competitive Firms Are Unable to Calculate Marginal Revenue

question 5

Multiple Choice

Even when competitive firms are unable to calculate marginal revenue product directly, _______ will push wage rates toward the marginal revenue product of labor.

• A) planned future investment in physical capital
• B) the pressures of competition in the labor market
• C) the marginal workers ongoing skills training
• D) wages that exceed workers' net revenue product

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Definitions:

Transactional Analysis

A psychoanalytic theory and method of therapy wherein social transactions are analyzed to determine the ego state of the communicator as a basis for understanding behavior.

Transaction

An instance of buying or selling something; in psychology, it can also refer to an interaction or exchange between people.

Strokes

A term used in psychology to describe a unit of recognition or attention that one person gives another, often used in transactional analysis.

Interpersonal Therapy

A short-term, attachment-focused psychotherapy that centers on resolving interpersonal problems and symptomatic recovery, emphasizing on relationship-focused intervention strategies.