To Maximise Profit, a Competitive Firm Hires Workers Up to the Point

question 158

Multiple Choice

To maximise profit, a competitive firm hires workers up to the point where the:

• A)marginal product and marginal cost curves intersect
• B)value of the marginal product and marginal revenue curves intersect
• C)value of the marginal product and the wage curves intersect
• D)wage and the total revenue curves intersect

---

Definitions:

Desk

A piece of furniture with a flat top and legs, used for writing, working or using a computer.

Box of Tools

Metaphorically refers to a set of skills, strategies, or resources available to individuals or organizations for performing tasks or solving problems.

Economic Goods

Items or services that have a price and are scarce in relation to their demand, thus necessitating economic decision-making.

Scarce Resources

Raw materials, labor, and capital that are limited in availability, requiring societies to make decisions on their allocation and use.