Suppose That a Firm Sells a Good for a Perfectly

question 244

Multiple Choice

Suppose that a firm sells a good for a perfectly competitive price of $5.The equilibrium wage rate is $10.The first worker it hires produces five units.Two workers produce a total of nine units.Given this information,the firm will:

• A)hire the first worker only.
• B)hire both the first and second workers.
• C)not hire either worker.
• D)hire only the second worker.

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Definitions:

Order Takers

Individuals or systems responsible for taking customer orders without actively engaging in sales persuasion or additional selling.

Market Share

Market share is the percentage of a market (in terms of sales units or revenue) captured by a company or brand compared to its competitors.

Preserve Ongoing Relationships

The act or strategy of maintaining continuous and beneficial interactions and associations with others over time.

Outside Order Taking

A sales process that involves sales representatives visiting potential customers in their locations to take orders directly.