In Order to Maximize Its Profit,or Minimize Its Loss,the Firm

question 49

Multiple Choice

In order to maximize its profit,or minimize its loss,the firm must hire workers until

• A) the extra revenue from the last worker equals the extra profit.
• B) the extra revenue from the last worker equals the extra cost.
• C) total revenue and total labour cost are equal.
• D) the marginal product of workers begin to decline.
• E) the marginal product of workers becomes negative.

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Definitions:

Task-oriented

A focus on completing tasks or achieving goals, often prioritizing work efficiency over interpersonal relationships.

Boosting Morale

Activities or actions taken to improve the spirit, confidence, or enthusiasm of a group or an individual.

Group Spirit

The sense of solidarity, enthusiasm, and loyalty shared by members within a group, team, or community.

Deliberate

To think about or discuss something very carefully in order to make a decision.