Economics · Labor Economics
In the labour demand-supply framework, at an employment level below the equilibrium, there is an incentive for the firm/employer to hire more workers because:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1marginal product of labour is not related to real wage.
- 2marginal product of labour is equal to real wage.
- 3marginal product of labour is lower than the real wage.
- 4marginal product of labour exceeds the real wage.✓
Correct answer
marginal product of labour exceeds the real wage.
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