At What Point Will a Competitive Firm Stop Hiring Additional

question 127

Multiple Choice

At what point will a competitive firm stop hiring additional labour?

• A)When its total product is maximized.
• B)When the marginal product of labour is maximized.
• C)When the marginal revenue product of labour is maximized.
• D)When the marginal revenue product of labour is just equal to the wage rate.

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Definitions:

Geographic Design

Refers to the strategic planning and arrangement of geographic locations and spaces to achieve specific objectives or outcomes.

Specialized Activities

Specialized activities refer to tasks, operations, or processes that require specific expertise or focus in a particular field or area of knowledge, often contributing to more efficient and effective outcomes.

Network Design

The planning and structuring of a network, including the selection and interconnection of network components, to meet specific business or operational requirements.

Geographic Design

The arrangement or planning of elements within a spatial environment based on geographical factors.