All of the following will cause the value of the marginal product of labor to increase, EXCEPT:

Related MCQs

• A firm under perfect competitions shall be in equilibrium when marginal cost will be equal to marginal revenue and marginal cost curve is still
• If an imperfectly competitive firm is producing a level of output where marginal cost is equal to marginal revenue, marginal revenue is below average variable cost, and price is equal to average total cost, then the firm
• In the short run, a monopolist will shut down if it is producing a level of output where marginal revenue is equal to short-run marginal cost and price is
• A monopolist produces 14,000 units of output and charges Rs.14 per unit. Its marginal revenue is Rs.8, its marginal cost is Rs.7 and rising, its average total cost is Rs.10, and its average variable cost is Rs.9. The monopolist should
• The property of diminishing marginal product applies:
• Suppose a competitive firm produces 100 units of X for a price of Rs.10 a unit. The firm is employing labour and capital such that the marginal physical product of labour and capital is 20 and 5 and the prices paid to labour and capital are Rs. 60 and Rs. 40 respectively. How would you characterize the firm
• That the perfectly competitive firm will pick a combination of inputs where the ratio of each input’s marginal product to its price is equal follows from
• If there is a permanent increase in the demand for cars, car manufacturers will want to hire ________ workers, which will cause wages in the industry to ________.
• If the supply curve for labor is backward bending, and if the wage of a worker increases, she might choose to work:
• _______ is situation in which a single company or group owns all or nearly all of the market for a given type of product or service.