Explain why the marginal product of labor curve is the firms labor demand curve.

Question:

Explain why the marginal product of labor curve is the firm’s labor demand curve.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Macroeconomics

ISBN: 978-0134472119

6th Edition

Authors: Stephen D. Williamson

See More Books

Question Posted: Feb 21, 2020 07:51 AM

See More Questions

Why the marginal product of labor is likely to increase initially in the short run as more of the variable input is hired?
Explain how a firms production function is related to its marginal product of labor, how a firms marginal product of labor is related to the value of its marginal product, and how a firms value of...
The following curve shows the marginal product of labor for a firm at different levels of output. a. Show what the corresponding total product curve would look like. b. Do the total and marginal...
Knowing that two equal caps have been removed from a 10-in.-diameter wooden sphere, determine the total surface area of the remaining portion. 4 in 10 in.
Calculate the gain H(s) = V0 /Vs in the op amp circuit of Fig. 16.68. vo v s
sequential circuit with two D lip- lops A and B, two inputs X and Y, and one output Z is speciied by the following input equations: (a) Draw the logic diagram of the circuit. (b) Derive the state...
How might a hacker access and manipulate a digital device for illegal purposes? Are the Internet of Things (IoT) devices at risk for hacker access and manipulation?
Based on the financial statements for Jackson Enterprises (income statement, statement of owner's equity, and balance sheet) shown on the next pages, prepare the following financial ratios. All sales...
The adjusted trial balance for Chiara Company as of December 31 follows. Cash Accounts receivable Interest receivable Debit $ 30,000 Credit 52,000 18,000 nt ok Notes receivable (due in 90 days)...
The following account balances are for Lisa Assaad, Certified Public Accountant, as of April 30, 20X1. INSTRUCTIONS Using the accounting equation form, determine the balance for Lisa Assaad, Capital,...
What are the effects on the production function of an increase in total factor productivity?
Why is it useful to study a closed-economy model?
What are some global issues that corporations must face today, and why are these important?
Each year in New Orleans, Carnival season begins on January 6 and culminates with the citys biggest celebration of the year, Mardi Gras. This wildly popular celebration attracts people from around...
Published in 2017, Celeste Ngs bestselling novel, Little Fires Everywhere, spent 38 weeks on the New York Times Best Sellers list for hardcover fiction. In book publishing, fixed costs are high and...
For a perfectly competitive firm, the marginal cost curve determines how much output a profit-maximizing firm will produce. For input markets, the marginal revenue product curve determines how much...
Prepare a flow chart for a common process with which you have personal knowledge or experience.
Since the end of World War II, manufacturing firms in the United States and in Europe have been moving farther and farther outside of central cities. At the same time, firms in finance, insurance,...
A suitcase (mass m = 16 kg) is resting on the floor of an elevator. The part of the suitcase in contact with the floor measures 0.50 m 0.15 m. The elevator is moving upward with an acceleration of...
What are the principal differences among asset liquidity management, liability management, and balanced liquidity management?
1. Fill in the table using the formula: y = At + Bt+C t12351020 y0-12
Refined costing system reduces the use of broad averages for assigning the cost of resources to cost objects (such as jobs, products, and services) and provides better measurement of the costs of...
How does ethnocentrism manifest in the context of cultural anthropology and sociology, particularly concerning the evaluation of other societies based on one's own cultural standards?

Explain why the marginal product of labor curve is the firms labor demand curve.

Question:

Step by Step Answer:

firm mximises rfits fr the quntity f lbur inut tht imlies mrginl rdut f l...View the full answer

Macroeconomics

Students also viewed these Business questions