If the Value of the Marginal Product of Labor Exceeds

question 324

Multiple Choice

If the value of the marginal product of labor exceeds the wage, then hiring another worker increases the firm's

• A)profit.
• B)total cost.
• C)total revenue.
• D)All of the above are correct.

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Definitions:

France

A country in Western Europe known for its history, culture, and significant influence in art, science, and politics.

U.S.

The United States of America, a country in North America composed of 50 states, a federal district, five major self-governing territories, and various possessions.

Collective bargaining

The process in which employers and unions negotiate terms of employment, including wages, hours, and working conditions, for a group of employees.

Company level

Refers to operations, decisions, or policies occurring or being implemented at the specific level of an individual company or organization.