A Firm Can Sell as Many Units of Its Output

question 66

Multiple Choice

A firm can sell as many units of its output as it wants for $10 a piece.The current market wage rate for its workers is $20 per hour.It follows that the firm will hire workers up to the point where the last worker hired produces how much per hour?

• A) one unit.
• B) two units.
• C) one-half a unit.
• D) 200 units.

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Definitions:

Woodrow Wilson

The 28th president of the United States (1913-1921), known for leading the country during World War I and for his efforts in shaping the post-war peace settlement, including the founding of the League of Nations.

Progressive Movement

A political and social-reform movement in the late 19th and early 20th centuries that aimed to address the problems caused by industrialization, urbanization, and corruption in government.

1916-1920

A period marked by World War I (1914-1918), significant political and social changes worldwide, and the start of the Roaring Twenties.

Declined

A term indicating a decrease in quantity, quality, or strength over time.