Post Utme Wellspring University 2017 Economics Question 12

Practice objective / multiple choice question 12 from the 2017 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2017 Economics Objective / Multiple Choice
Question 12 POST_UTME_WELLSPRING_UNIVERSITY • 2017 • ECONOMICS • objective

A firm is producing a commodity at a point where the marginal revenue product of labor is equal to the wage rate. If the firm increases the wage rate, what will be the effect on the quantity of labor employed?

Answer Options

A. The quantity of labor employed will increase
Correct Answer B. The quantity of labor employed will decrease
C. The quantity of labor employed will remain cons\tant
D. The quantity of labor employed will increase at a decrea\sing rate
Correct Answer
B
Correct Option:
The quantity of labor employed will decrease

About This Question

This is Post Utme Wellspring University 2017 Economics Question 12. It is one of the objective questions from the 2017 Post Utme Wellspring University Economics examination.

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