Suppose That the Value of the Marginal Product of Labour

question 156

Multiple Choice

Suppose that the value of the marginal product of labour is now less than the wage.Hiring an additional worker would be:

• A)profitable
• B)unprofitable
• C)either profitable or unprofitable depending on other circumstances
• D)a socially responsible thing to do

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Definitions:

Deductive Reasoning

A method of reasoning in which a decision is made based on the congruence of multiple assertions commonly accepted as truth.

Semantic Networking

A method used in cognitive psychology to model how human memory organizes information, where concepts are linked together based on their meanings.

Divergent Thinking

A thought process used to generate creative ideas by exploring many possible solutions, fostering innovation and problem-solving.

Convergent Thinking

A type of thinking that aims to find a single, correct solution to a problem by focusing knowledge and reasoning.