Post Utme Wellspring University 2019 Commerce Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Wellspring University Commerce examination.

Post Utme Wellspring University 2019 Commerce Objective / Multiple Choice
Question 1 POST_UTME_WELLSPRING_UNIVERSITY • 2019 • COMMERCE • objective

In a perfectly competitive market, what is the relationship between the marginal revenue product of labor and the market wage?

Answer Options

A. The marginal revenue product of labor is equal to the market wage.
B. The marginal revenue product of labor is greater than the market wage.
Correct Answer C. The marginal revenue product of labor is less than the market wage.
D. The marginal revenue product of labor is unrelated to the market wage.
Correct Answer
C
Correct Option:
The marginal revenue product of labor is less than the market wage.

About This Question

This is Post Utme Wellspring University 2019 Commerce Question 1. It is one of the objective questions from the 2019 Post Utme Wellspring University Commerce examination.

View More Post Utme Wellspring University 2019 Commerce Questions More Post Utme Wellspring University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support