Use the Following to Answer Questions

question 340

Multiple Choice

Use the following to answer questions:
Figure: The Demand for Bricklayers
-(Figure: The Demand for Bricklayers) Look at the figure The Demand for Bricklayers. The equilibrium market wage for bricklayers is $100. For a profit-maximizing firm at the equilibrium level of output, the VMPL_bricklayers:

• A) is $200.
• B) is equal to the market wage rate.
• C) is irrelevant, since the firm is a price taker.
• D) cannot be determined from the information provided.

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Definitions:

Contingency Planning

Taking into account the managerial options that are implicit in a project.

Abandonment

In business, this refers to the decision to stop developing, producing, or pursuing an asset, project, or product line, often due to it being unprofitable.