HElP with these questions 1. If the firm hires to a point where marginal expense

Question

HElP with these questions

1. If the firm hires to a point where marginal expense of labor is less than the marginal revenue product of labor, then A) profits could be increased by increasing employment. B) profits could be increased by reducing employment. C) profits are maximized. D) total cost must be greater than total revenue 2. An increase in quasi-fixed costs would probably lead to a(n) of employees hired and a(n) A) increase; decrease B) increase; increase C) decrease; decrease D) decrease; increase in the number in the number of overtime hours worked. 3. After general training, the employee's wage will be A) equal to his or her marginal product of labor B) greater than his or her marginal product of labor, due to the training received. C) less than his or her marginal product of labor, to pay for the cost of the training received. D) either greater or less than h is or her marginal product of labor 4. Household production consists of A) any commodities which are produced at home and then sold. B) any commodities which are produced at home and yield utility to the family C) any time spent at home by any family member D) any commodities purchased for use in the home

Explanation / Answer

Dear Student, only one question is allowed at a time.

1)

Option A is the correct option.

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