Firms Should Hire Additional Units of a Resource as Long

question 56

Multiple Choice

Firms should hire additional units of a resource as long as the:

• A) marginal product of the resource exceeds the price of the resource multiplied by the quantity of output produced.
• B) marginal product of the resource is less than the price of the resource.
• C) price of the output produced is positive.
• D) marginal revenue product of the resource exceeds the cost of an additional unit of the resource.

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Definitions:

Blaming The Victim

A social phenomenon where the victim of a crime or any wrongful act is held entirely or partially responsible for the harm that befell them.

Nonprofit Job Agency

An organization that operates without seeking profit to assist individuals in finding employment, often focusing on those facing barriers to employment.

Taxpayers

Individuals or entities that are required to make payments to a governmental authority based on earned income, property values, or other taxable assets.

Occupational Prestige

The perceived social status or esteem associated with a job or profession.