The Hiring Rule for the Perfect Competitor in the Labor

question 51

Multiple Choice

The hiring rule for the perfect competitor in the labor market is to choose that amount of labor for which the wage rate is exactly equal to

• A)marginal revenue from the sale of one more unit of output.
• B)the cost of capital.
• C)the value of the marginal product of labor, VMPL.
• D)MC.

---

Definitions:

Stress Reduction

A variety of techniques and methods aimed at decreasing psychological or physical stress.

Immune System

The complex network of cells, tissues, and organs in the body that defends against infections, diseases, and foreign substances.

Sense of Taste

One of the five senses, involving the ability to detect flavors through taste buds in the mouth.

Spoiled Food

Food that has gone bad due to bacteria, mold, or yeast growth, making it unsafe to eat and potentially causing illness.