A Competitive Firm Will Hire Workers Up to the Point

question 73

Multiple Choice

A competitive firm will hire workers up to the point at which the value of the marginal product of labor equals the

• A)average total cost.
• B)average variable cost.
• C)wage.
• D)price per unit of output.

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Definitions:

Introns

Non-coding sequences of DNA within a gene that are removed during mRNA processing, leaving only the exons to be translated into protein.

Transgenic Organisms

Organisms whose genomes have been artificially changed by the introduction of a gene from a different species, using techniques of genetic engineering.

Genetically Engineered

Organisms that have had their genetic material altered in a way that does not occur naturally through mating and/or natural recombination.

E. Coli

Escherichia coli, a commonly occurring bacterium in the intestines of warm-blooded organisms, some strains of which can cause food poisoning.