If the Marginal Cost of Hiring Another Worker to Produce

question 57

Multiple Choice

If the marginal cost of hiring another worker to produce sandwiches is $4 per sandwich, and sandwiches sell for $5 each, then:

• A)another worker should be hired.
• B)another worker should not be hired.
• C)two more workers should be hired.
• D)Not enough information is given to answer this question.

Understand the concept of brand extension and its significance in marketing.

Identify the differences between national brands and private-label brands.

Recognize the strategic reasons behind retailers carrying national brands.

Understand the tactics used in brand partnerships and co-branding strategies.

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Definitions:

Stakeholders

Individuals or groups that have an interest, stake, or investment in a business or project and can be affected by its outcomes.

Human Resource Planning

The process of forecasting and meeting the needs of a company in terms of recruiting, using, and developing its workforce.

Skilled Labor

Workers who possess specialized training, expertise, and experience in their fields or occupations.

Competencies Clusters

Groups of related abilities, commitments, knowledge, and skills that enable a person or an organization to act effectively in job or situation.