Assume that Paul Bocuse's restaurant in Lyon is hiring labour in an amount such that the MRC of the last worker is $10 and his MRP is $15. On the basis of this information, we can say that Multiple Choice   profits will be increased by hiring additional workers.   the Paul Bocuse restaurant is maximizing profits.   the Paul Bocuse restaurant is minimizing losses.   profits will be increased by hiring fewer workers.   marginal revenue product must exceed average revenue product.

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
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Chapter26: Factor Markets: With Emphasis On The Labor Market
Section26.1: Factor Markets
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Assume that Paul Bocuse's restaurant in Lyon is hiring labour in an amount such that the MRC of the last worker is $10 and his MRP is $15. On the basis of this information, we can say that

Multiple Choice
  •  
    profits will be increased by hiring additional workers.
  •  
    the Paul Bocuse restaurant is maximizing profits.
  •  
    the Paul Bocuse restaurant is minimizing losses.
  •  
    profits will be increased by hiring fewer workers.
  •  
    marginal revenue product must exceed average revenue product.
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