The amount of labour hired depends on the
...The amount of labour hired depends on the
Number of skilled labour available
Skill of labour
Marginal productivity of labour
Price of the inputs
Correct answer is C
The demand for an additional amount of labour depends on the Marginal Revenue Product (MRP). Firms will hire more labour when the marginal revenue product of labor is greater than the wage rate, and stop hiring as soon as the two values are equal.
Balance of payment deficit implies that a country is ...
The production strategy used in an over-populated country is ...
The grouping of the population according to the economic activities people engage in is ...
To enhance the competitiveness of domestic agricultural products, there is need to ...
Which of the following is not true of the theory of optimum population? ...
A demand curve slopes downwards because of ...
Which of the following is not characteristics of a perfect competition? ...
The indicator of the value of money is ...
An arrangement of data in rows and columns is referred to as ...