Use the Following to Answer Question(s): Demand and Supply of Bricklayers

question 98

Multiple Choice

Use the following to answer question(s) : Demand and Supply of Bricklayers in a Perfectly Competitive Labor Market

-(Exhibit: Demand and Supply of Bricklayers in a Perfectly Competitive Labor Market) Which of the following statements is true?

• A) Bricklayers should be hired whenever the marginal revenue product of bricklayers is less than the marginal factor cost of bricklayers.
• B) The profit-maximizing condition for the firm hiring bricklayers is where MRPBRICKLAYERS is greater than the MFCBRICKLAYERS.
• C) The profit-maximizing condition for a firm hiring bricklayers is where MRBRICKLAYERS equals the MFCBRICKLAYERS.
• D) Bricklayers should be hired whenever the marginal factor cost of bricklayers is greater than the marginal revenue product of bricklayers.

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