If profit maximization is assumed to be the objective of a business enterprise, labour must...
ECONOMICS
JAMB 1993
If profit maximization is assumed to be the objective of a business enterprise, labour must be paid a wage rate equal to the?
- A. marginal revenue of the enterprise
- B. marginal revenue product of labour in the enterprise
- C. average revenue of the enterprise
- D. marginal cost of production
Correct Answer: B. marginal revenue product of labour in the enterprise
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