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When a competitive firm hires labor up to the point at which the value of the marginal product of labor equals the wage, it also produces up to the point at which the price of output equals average variable cost
选项：

A:正确;
B:错误

发布时间：2024-05-08 23:05:56

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1.Which of the following statements is correct?选项： A:The value of the marginal product curve is the labor demand curve for competitive, profit-maximizing firms.; B:A competitive, profit-maximizing firm hires workers up to the point where the value of the marginal product of labor equals the wage.; C:By hiring labor up to the point where the value of the marginal product of labor equals the wage, the firm is producing where price equals marginal cost.; D:All of the above are correct.
2.For maximum profit,a firm hires labour up to the point at which the wage equals(i)the value of the marginal product of labour.(ii)the marginal cost of an additional unit of output.(iii)output price ´marginal product of labour
3.If a monopolist faces a competitive labor market, it will hire labor up to the point where the price of output times the marginal product of labor equals the wage rate选项： A:对 B:错
4.If a monopolist faces a competitive labor market, it will hire labor up to the point where the price of output times the marginal product of labor equals the wage rate选项： A:错 B:对
5.A competitive, profit-maximizing firm hires labor until the: 选项： A:marginal product of labor equals the wage. B:price of output multiplied by the marginal product of labor equals the wage. C:real wage equals the real rental price of capital. D:wage equals the rental price of capital.
6.For a profit-maximizing, competitive firm, the value of the marginal product of labor 选项： A、increases when the price of output decreases. B、is the firm’s demand for labor. C、equals the marginal product of labor divided by the wage rate D、All of the above are correct.
7.Suppose that for a particular firm the only variable input into the production process is labor and that output equals zero when no workers are hired. In addition, suppose that when the firm hires 4 workers, the firm produces 50 units of output. If the fixed cost of production is $4, the variable cost per unit of labor is $20, and the marginal product of labor for the fifth unit of labor is 2, what is the average total cost of production when the firm hires 5 workers?_________. 选项：A、$22.80 B、$2.00 C、$20.00 D、$20.80
8.For a profit-maximizing, competitive firm, the value of the marginal product of labor 选项： A、increases when the price of output decreases. B、is the firm’s demand for labor. C、equals the marginal product of labor divided by the wage rate. D、All of the choices are correct.
9. In long-run equilibrium, a firm in a perfectly competitive industry will produce at the point where: 选项： A、 marginal cost equals average total cost. B、 total revenue is maximized. C、 marginal cost equals average variable cost. D、 price equals average fixed cost.
10. If a firm is a price taker in the labor market, then the value of the marginal product of labor equals ( )选项： A:labor’s marginal product.; B:labor’s marginal product multiplied by the price of the final product.; C:labor’s marginal product times the wage rate.; D:labor’s marginal product divided by the wage rate.
11.A monopolist produces a good using only one factor, labor. There are constant returns to scale in production, and the demand for the monopolist's product is described by a downward sloping straight line with slope -1. The monopolist faces a horizontal labor supply curve. If the monopolist chooses output to maximize profits, then the:选项： A:marginal cost of labor to the monopolist exceeds the wage. B:marginal product of labor times price of output equals the wage. C:marginal product of labor times price of output is less than the wage. D:marginal product of labor times price of output exceeds the wage.
12.A monopolist produces a good using only one factor, labor. There are constant returns to scale in production, and the demand for the monopolist's product is described by a downward sloping straight line with slope -1. The monopolist faces a horizontal labor supply curve. If the monopolist chooses output to maximize profits, then the:选项： A:marginal cost of labor to the monopolist exceeds the wage. B:marginal product of labor times price of output exceeds the wage. C:marginal product of labor times price of output equals the wage. D:marginal product of labor times price of output is less than the wage.
13.Firms in a perfectly competitive industry will increase their output until which of the following conditions is met 选项： A、Total revenue equals price. B、Marginal cost equals price. C、Marginal revenue equals average fixed cost.
14.When we solve the firm's cost minimization problem by the method of Lagrange multipliers, the optimal value of the Lagrange multiplier equals the: 选项： A:marginal product of labor. B:marginal product of capital. C:marginal cost of production. D:cost-output elasticity.
15.A competitive firm is choosing an output level to maximize its profits in the short run. Which of the following is not necessarily true? (Assume that marginal cost is not constant and is well-defined at all levels of output.)选项： A:Marginal cost is at least as large as average variable cost. B:Total revenues are at least as large as total costs. C:Price is at least as large as average variable cost. D:Price equals marginal cost.
16.In markets that are imperfectly competitive, such as monopoly and monopolistic competition, firms produce at an output where: 选项： A: Price equals marginal cost . B: Average costs are minimized . C: Price equals average cost . D: Marginal cost equals marginal revenue .
17.The marginal product of labor 选项： A: equals the total product divided by quantity of labor. B: equals the increase in cost when another worker is hired. C: always decreases as more workers are hired. D: equals the change in total product divided by the increase in the quantity of labor. E: equals total product divided by the wage rate.
18.Refer to Figure 6.2.1 above. Which of the following statements is false? 选项： A:
At point E the marginal product of labor is decreasing
B:
At point E the marginal product of labor is negative.
C:
At point E the average product of labor is decreasing.
D:
At point E the average product of labor is negative.
E:
At point E the marginal product of labor is less than the average product of labor.
19. Suppose that the firm's only variable input is labor. When 50 workers are used, the average product of labor is 50 and the marginal product of labor is 75. The wage rate is $80 and the total cost of the fixed input is $500.What is average variable cost? 选项： A、 $0.63 B、 $10.00 C、 $3.20 D、 $1.60 E、 none of the above
20.In a certain textile firm, labor is the only short term variable input. The manager notices that themarginal product of labor is the same for each unit of labor, which implies that: 选项： A:the average product of labor is always greater that the marginal product of labor. B:the average product of labor is always equal to the marginal product of labor. C:the average product of labor is always less than the marginal product of labor. D:as more labor is used, the average product of labor falls. E:there is no unambiguous relationship between labor's marginal and average products.
21.Consider the following statements when answering this questionI.If a firm employs only one variable factor of production,labor,and the marginal product of labor is constant,then the marginal costs of production are constant too.II.If a firm employs only one variable factor of production,labor,and the marginal product of labor is constant,then short-run average total costs cannot rise as output rises
22.8、An analyst does research about marginal cost and average cost.In the short run,when a firm's output increases beyond the point at which marginal cost equalsaverage variable cost, average fixed cost:【单选题】A、and average total cost both increase.B、decreases and average variable cost increases.C、decreases and average total cost increases.

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When a competitive firm hires labor up to the point at which the value of the marginal product of labor equals the wage, it also produces up to the point at which the price of output equals average variable cost选项： A:正确; B:错误

When a competitive firm hires labor up to the point at which the value of the marginal product of labor equals the wage, it also produces up to the point at which the price of output equals average variable cost
选项：

A:正确;
B:错误