Examlex

Solved

A Competitive Firm Produces an Output of 200 Units for a Price

question 62

Multiple Choice

A competitive firm produces an output of 200 units for a price of $15 per unit.The extra output produced by one extra worker is 5 units.In order to maximize it profit,the firm should pay a wage equal to _____.


Definitions:

Market Value

Market value is the current price at which an asset or service can be bought or sold in a marketplace.

Common Stock Dividend Distributable

A liability on the balance sheet representing the amount of dividends declared by a company but not yet paid to shareholders.

Paid-In Capital

Section of stockholders’ equity representing what stockholders have invested into the corporation.

Related Questions