8) The value of the marginal product of any input is equal to the marginal product of that input multiplied by which of the following?  A. wage rate  B. market price of the output  C. additional revenue  D. change in total profit 107) Up to what point does a competitive, profit-maximizing firm hire workers?  A. where the marginal revenue product equals zero  B. where the marginal product equals zero  C. where the marginal product equals the wage  D. where the value of the marginal product equals the wage

Principles of Economics, 7th Edition (MindTap Course List)
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Chapter18: The Markets For The Factor Of Production
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108) The value of the marginal product of any input is equal to the marginal product of that input multiplied by which of the following?

  •  A. wage rate
  •  B. market price of the output
  •  C. additional revenue
  •  D. change in total profit

107) Up to what point does a competitive, profit-maximizing firm hire workers?

  •  A. where the marginal revenue product equals zero
  •  B. where the marginal product equals zero
  •  C. where the marginal product equals the wage
  •  D. where the value of the marginal product equals the wage

 

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