If a Firm Increases the Number of Workers from 32

question 111

Multiple Choice

If a firm increases the number of workers from 32 to 33 and the total wages paid rise from $112,000 to $121,000, the marginal wage of the 33^rd worker is

• A) $273.
• B) $3,667.
• C) $121,000.
• D) $9,000.

---

Definitions:

Statistical Significance

Likelihood that a study’s results have occurred only by chance.

Probability

The likelihood or chance that a specific event will occur, often expressed as a ratio or percentage.

Research Study

A structured process of investigation that aims to uncover new information or test hypotheses in a systematic way.

Prevalence

The ratio of individuals in a population who have a certain condition during a specific timeframe.