Post Utme Lautech 2025 Commerce Question 8

Practice objective / multiple choice question 8 from the 2025 Post Utme Lautech Commerce examination.

Post Utme Lautech 2025 Commerce Objective / Multiple Choice
Question 8 POST_UTME_LAUTECH • 2025 • COMMERCE • objective

A firm's marginal revenue product is the change in its total revenue resulting from a one-unit change in the quantity of a variable input, such as labor. If the firm's marginal revenue product of labor is 100, and the wage rate is 80, then the firm should

Answer Options

A. hire more labor
Correct Answer B. hire less labor
C. not hire any labor
D. fire some labor
Correct Answer
B
Correct Option:
hire less labor

About This Question

This is Post Utme Lautech 2025 Commerce Question 8. It is one of the objective questions from the 2025 Post Utme Lautech Commerce examination.

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