Competitive Firms Hire an Additional Worker Only If the Additional

question 114

Multiple Choice

Competitive firms hire an additional worker only if the additional profit created by the newly hired worker exceeds:

• A)the revenue collected
• B)the wage she is paid
• C)her marginal product
• D)the value of her marginal product

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Definitions:

Observational

Relating to the acquisition of knowledge that is obtained by observing and studying subjects without influencing them.

Social Action Group

A collective aimed at promoting social change or addressing social issues through direct action and community involvement.

Empowered

describes a state of having the confidence, resources, and authority to take control of one’s life or situation.

Group Goal

A specific objective or target that is shared and pursued by members of a group.