In theory - firms are suppose to hir labor up the the point where the marginal revenue
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Question:
In theory - firms are suppose to hir labor up the the point where the marginal revenue product equals the marinal factor cost. Explain what this means and do you find this to be true? When would this not be the case? Have you witnessed this not being the case in your own work experience?
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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