If the Wage Rate Is ________ the Value of Marginal

question 282

Multiple Choice

If the wage rate is ________ the value of marginal product, a firm can increase its profit by ________.

• A) greater than; selling an extra unit of output
• B) less than; selling one less unit of output
• C) less than; hiring an extra worker
• D) less than; hiring one less worker

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Definitions:

Rationalizer

An individual who justifies actions or decisions with logical, albeit sometimes flawed, reasoning to accommodate personal biases or avoid cognitive dissonance.

Unethical Behaviour

Actions that are considered morally wrong according to the widely accepted standards of a community or society.

Ambiguous Situations

Circumstances or scenarios that lack clarity or have multiple interpretations.

Rationalizations

The process of providing reasonable explanations for behaviors, decisions, or business practices that may otherwise appear irrational or unjustified, often to align with societal norms or ethical standards.