At the Competitive Firm's Profit-Maximizing Quantity of Labor

question 163

Multiple Choice

At the competitive firm's profit-maximizing quantity of labor:

• A)the value of the last worker's marginal product is greater than or equal to marginal cost of that input.
• B)the value of the last worker's marginal product is less than the marginal cost of that input.
• C)marginal profits are always positive.
• D)None of these statements is true.

---

Definitions:

Bottom-Up Processing

A cognitive approach where perception starts with an object in the world, implying processing begins with the sensory input.

Feature Nets

Models for how the brain clusters or networks features of stimuli together to recognize patterns or objects.

Feature Detectors

Neurons in the brain that identify and respond to specific characteristics of sensory information.

Figure From Ground

The perceptual ability to distinguish an object (figure) from its surroundings (ground) based on visual cues.