A Firm Can Hire 8 Workers at a Wage Rate

question 102

Multiple Choice

A firm can hire 8 workers at a wage rate of $7 per hour but must pay $8 per hour to all of its employees to attract a ninth worker. The marginal wage cost of the ninth worker is

• A)$8.
• B)$9.
• C)$16.
• D)$72.

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Definitions:

Decision

The act of making a choice or coming to a conclusion after considering all relevant information.

Products

Items or services produced for sale or use, often designed to meet consumer needs or wants.

SELL Sequence

A sales strategy that involves showcasing the product or service, explaining the benefits, leading into the advantages, and locking in the sale.

Feedback

Information given to a person or group about their actions or performance, used as a basis for improvement.