Which of the Following Statements Is Correct

question 96

Multiple Choice

Which of the following statements is correct?

• A)The value of the marginal product curve is the labor demand curve for competitive, profit-maximizing firms.
• B)A competitive, profit-maximizing firm hires workers up to the point where the value of the marginal product of labor equals the wage.
• C)By hiring labor up to the point where the value of the marginal product of labor equals the wage, the firm is producing where price equals marginal cost.
• D)All of the above are correct.

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Definitions:

Option Group

A user interface element, typically in forms or applications, consisting of a group of options from which a user can select one choice.

Toggle Button

A graphical user interface element that allows the user to change a setting between two states, often represented visually by an on/off switch.

Tab Control

A graphical user interface element that allows for the organization of content into separate tabs, each of which can be selected to view the content it contains.

Record Source Property

A property in database management systems that specifies the source of data for objects like forms, reports, and controls.