Figure: the Demand for Bricklayers (Figure: the Demand

question 165

Multiple Choice

Figure: The Demand for Bricklayers (Figure: The Demand for Bricklayers) Look at the figure The Demand for Bricklayers.Which of the following statements is true?

• A)Bricklayers should be hired whenever the value of the marginal product of bricklayers is greater than the market wage rate of bricklayers.
• B)The profit-maximizing condition for firms hiring bricklayers is where VMPLbricklayers is less than the market wage rate.
• C)The profit-maximizing condition for firms hiring bricklayers is where MPbricklayers equals the market wage rate.
• D)Bricklayers should be hired whenever the market wage rate of bricklayers is greater than the value of the marginal product of bricklayers.

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Definitions:

Financial Statements

Documents that provide an overview of a company's financial condition, including the balance sheet, income statement, statement of cash flows, and statement of shareholders' equity.

Assets

Resources owned or controlled by a business or an individual that have expected future economic benefits.

Liabilities

Present obligations of an entity arising from past transactions or events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.

Sale Of Goods

A transaction between two parties where the seller transfers the ownership of goods to the buyer for a price.