We observe a profit-maximizing firm hiring its 51st employee.it is possible to i

Question

We observe a profit-maximizing firm hiring its 51st employee.it is possible to infer that, when 50 employees are hired,the a.wage exceeds the value of the marginal product oflabor b.value of the marginal product of labor exceeds thewage c.marginal product d.firms is attempting to increase its market share We observe a profit-maximizing firm hiring its 51st employee.it is possible to infer that, when 50 employees are hired,the a.wage exceeds the value of the marginal product oflabor b.value of the marginal product of labor exceeds thewage c.marginal product d.firms is attempting to increase its market share

Explanation / Answer

b.value of the marginal product of labor exceeds thewage because a profit-maximizing firm would hire till the value ofthe marginal product of labor equaled the wage

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