To maximize profit, a firm will hire workers when the in revenue from hiring an additional worker the worker's wage. O increase; is greater than O decrease; is less than or equal to O increase; i...

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To maximize profit, a firm will hire workers when the in revenue from hiring an additional worker the workers wage. O increa

business economics

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Answer 1

Answer #1

Increase; is greater than

Profit is maximised when marginal revenue is equal to marginal cost. So when marginal revenue is greater than marginal cost or wage rate, firm should hire more workers.

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Answer 2

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To maximize profit, a firm will hire workers when the in revenue from hiring an additional worker the worker's wage. O increase; is greater than O decrease; is less than or equal to O increase; i...

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Add Answer to: To maximize profit, a firm will hire workers when the in revenue from hiring an additional worker the worker's wage. O increase; is greater than O decrease; is less than or equal to O increase; i...

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To maximize profit, a firm will hire workers when the in revenue from hiring an additional worker the worker's wage. O increase; is greater than O decrease; is less than or equal to O increase; i...