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Question 64Asked in RRB JE CBT-1, 17 Dec 2024, Shift 3 (4:30 PM)

At which of the following points does each firm employ labour?

  1. AEach firm employs labour up to the point where the marginal revenue product of labour multiplies the wage rate.
  2. BEach firm employs labour up to the point where the marginal cost of labour equals the wage rate.
  3. CEach firm employs labour up to the point where the marginal revenue product of labour minus the wage rate.
  4. DEach firm employs labour up to the point where the marginal revenue product of labour equals the wage rate.
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Correct answer: (D) Each firm employs labour up to the point where the marginal revenue product of labour equals the wage rate.

From RRB JE CBT-1 PYQ 17 Dec 2024, Shift 3 (4:30 PM)

This is question 64 of RRB JE CBT-1 PYQ 17 Dec 2024, Shift 3 (4:30 PM). See all questions of this paper with answers, or attempt the paper as a timed online test to get your score and all-India rank.