A Firm Has Hired the Profit-Maximizing Number of Workers When

question 37

Multiple Choice

A firm has hired the profit-maximizing number of workers when the wage is:

• A)less than the price of the product.
• B)greater than the average product of the last worker hired.
• C)equal to the average product of the last worker hired.
• D)equal to the value of the marginal product of labor of the last worker hired.

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Definitions:

Foreign Assignments

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McWorld

A term that describes the globalization of culture, economy, and technology, leading to a homogeneous global market and cultural standardization.

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An esteemed public research university located in Ann Arbor, Michigan, noted for its diverse and comprehensive academic programs.

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A chief executive officer from Germany who believes his or her own culture is superior to others.