Economics · Marginal Productivity Theory

A profit-maximizing firm in a competitive market will hire additional labor until the Marginal Product of Labor (MPL) equals the:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Real wage rate (W/P)✓
2Rental price of capital
3Total nominal cost
4Capital-labor ratio

Correct answer

Real wage rate (W/P)

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A profit-maximizing firm in a competitive market will hire additional labor until the Marginal Product of Labor (MPL) equals the:

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A profit-maximizing firm in a competitive market will hire additional labor until the Marginal Product of Labor (MPL) equals the:

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