If the Value of Marginal Product of the Last Worker

question 115

Multiple Choice

If the value of marginal product of the last worker hired is $24 and the wage rate is $25, then

• A) more workers should be hired.
• B) the worker should be fired.
• C) the firm has hired the profit maximizing number of workers.
• D) the firm is earning $1 of profit from this worker.

Examine the impacts of diseases on population structures.

Understand the concepts of demographic transition and population age structures.

Identify strategies for effective birth control and their implications on population trends.

Recognize the role of immigration, emigration, and ethnic diversity in shaping population characteristics.

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Definitions:

Extraverted

A personality trait characterized by high levels of outgoingness, sociability, and energy in social situations.

Impulsive

Acting on instincts or desires without considering consequences or deliberation, often leading to hasty and sometimes regrettable decisions.

Reward

A positive reinforcement or incentive given in response to desired behavior, often used to motivate or encourage.

Behaviourists

Psychologists or researchers who focus on observable behaviors rather than internal processes such as cognition and emotion.