Let L Represent the Number of Workers Hired by a Firm

question 193

Multiple Choice

Let L represent the number of workers hired by a firm, and let Q represent that firm's quantity of output. Assume two points on the firm's production function are (L = 12, Q = 122) and (L = 13, Q = 130) . Then the marginal product of the 13th worker is

• A)8 units of output.
• B)10 units of output.
• C)122 units of output.
• D)132 units of output.

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Definitions:

Innovation

Combination of new or existing ideas to create marketable value.

Multidomestic Strategy

A strategy used by companies to tailor products and marketing strategies to suit local preferences and conditions.

Transnational Strategy

A corporate strategy that involves operating in multiple countries, combining global coordination to achieve efficiency with flexibility to adapt to local market conditions.

Autonomy to Adapt

The ability of an entity, such as an organization, to independently adjust or modify its functions and processes in response to environmental changes or internal demands.