The number of workers hired by a firm at a particular wage rate can be calculated...

The number of workers hired by a firm at a particular wage rate can be calculated if you know which of the following?

a.	c and d.
	b.	Product supply curve.
	c.	Marginal product of labor.
	d.	Marginal factor cost.
	e.	Marginal revenue product of labor.

Expert Solution

Option e. Marginal revenue product of labor.

Explanation: Marginal revenue product of labor is calculated by multiplying the marginal product of labor with the selling price of products. A firm hires workers as long as the wage rate is lower than or equal to the marginal Marginal revenue product of labor.

Rahul Sunny answered 2 years ago

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