If the Marginal Product of Labor Is $10 an Hour

question 106

True/False

If the marginal product of labor is $10 an hour, the firm should hire the worker so long as the wage (including fringe benefits) exceeds $10 an hour.

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Definitions:

Air Pollution

The presence of substances in the air that are harmful to human health, the environment, or cause climate change.

Opportunity Costs

Leaving potential advantages from various options on the table by picking a particular one.

Marginal Cost

The rise in overall expenses resulting from the production of an additional unit.

Employment Discrimination

Unfair treatment of employees based on race, gender, religion, national origin, physical or mental disability, age, sexual orientation, and other characteristics.