Consider a Small,remote Town with Only One Employer - a Gold

question 19

Multiple Choice

Consider a small,remote town with only one employer - a gold mining company.Suppose the current work force is 875 workers,each of whom is paid $6000 per month.In order to attract one additional worker,the employer must increase the wage to $6025 per month.The marginal cost of this additional worker is

• A)$5.25 million per month.
• B)$21 875 per month.
• C)$21 900 per month.
• D)$5.28 million per month.
• E)$27 900 per month.

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Definitions:

Maturity

A phase in the product life cycle characterized by a slowdown in sales growth as the product achieves widespread acceptance and market saturation.

Product Life Cycle

The series of stages that a product goes through from its introduction to the market until its decline and eventual withdrawal from the market.

Maturity Stage

A phase in the product life cycle characterized by slowing growth, well-established market presence, and increased competition, requiring strategies for retention and differentiation.

Gatorade

A brand of sports-themed beverages and products, marketed for hydration and performance enhancement.