Question

Suppose the Chris Corpora Coal Mining Company currently employs 17 workers at $14.50 per hour, which is the prevailing wage rate in the perfectly competitive market for miners. Suppose also that the marginal revenue product of the seventeenth worker is $12.50. What should the firm do? Why? What hiring rule should it follow?


$1.99
Sales0
Views25
Comments0
  • CreatedApril 21, 2015
  • Files Included
Post your question
5000