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Answer to Question #94759 in Macroeconomics for Maryum

Question #94759
Explain the relationship between profit maximisation and labor demand
1
Expert's answer
2019-09-19T09:31:57-0400

Theory states that a profit maximizingfirm will hire workers up to the point where the marginal revenue product is equal to the wage rate, because it is not efficient for a firm to pay its workers more than it will earn in revenues from their labor.

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