Answer to Question #231235 in Microeconomics for Yaya

Question #231235

A profit-maximising producer will hire labour to the point where

[1] marginal revenue product equals the wage rate.

[2] marginal revenue equals zero.

[3] labour and capital costs are equalised

[4] its marginal product equals marginal revenue.

Expert's answer

[1] marginal revenue product equals the wage rate.

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