Suppose a Firm Hires Both Labor (L) and Capital (C)

question 85

Multiple Choice

Suppose a firm hires both labor (L) and capital (C) under purely competitive conditions.The price of labor is PL, and that of capital is PC.The marginal product of labor is MPL, and that of capital is MPC.The firm sells its product competitively at a price of PX.In competitive labor markets, the marginal cost of an additional unit of labor

• A)is equal to PL × MPL.
• B)is equal to MPL/PL.
• C)is equal to PL.
• D)cannot be determined from the information given.Difficulty: 02 Medium

Explain the importance of communication, truthfulness, and inclusion in the care of terminally ill minors.

Understand the dynamics of adolescent identity formation and its effects on self-esteem and coping strategies.

Recognize the importance of parental monitoring in adolescent development.

Identify the impact of different parenting styles on adolescent autonomy, self-reliance, self-esteem, work values, and academic competence.

---

Definitions:

Effectors

Biological structures that act in response to a signal from the nervous system.

Innervates

Refers to the supply of nerves to a specific body part, enabling sensation and movement.

Crossed Extensor Reflex

A reflex action that involves the simultaneous contraction of muscles on one side of the body and the relaxation of muscles on the opposite side, often in response to pain.

Withdrawal Reflex

An involuntary response to a harmful stimulus, resulting in the removal of a body part from the source of pain.