The Cost Associated with Hiring One More Unit of Labor

question 42

Multiple Choice

The cost associated with hiring one more unit of labor is

• A) absolute cost.
• B) economic cost.
• C) opportunity cost.
• D) capital cost.
• E) marginal cost.

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Definitions:

Brooks' Law

The principle that adding manpower to a late software project makes it later, emphasizing the complexities of team dynamics.

Common Objective

A shared goal or target that all members of a group or team strive to achieve.

Informal Groups

Groups that form naturally within an organization, based on personal relationships or shared interests, rather than structured, official assignments.

Social Identity Theory

A psychological theory that examines how individuals' self-concepts are influenced by their perceived membership in social groups.