To Maximize Profit, a Competitive Firm Hires Workers Up to the Point

question 98

Multiple Choice

To maximize profit, a competitive firm hires workers up to the point of intersection of the

• A)marginal product curve and the wage line.
• B)value of marginal product curve and the wage line.
• C)value of marginal product curve and the marginal revenue curve.
• D)total revenue curve and the wage line.

---

Definitions:

Halo Effect

A cognitive bias where the perception of a particular trait is influenced by the perception of former traits in a sequence of interpretations.

Reciprocal Liking

The phenomena where people tend to like others who like them in return.

Primacy Effect

The cognitive phenomenon where individuals are more likely to remember and give more weight to information that is presented first in a series.

Matching Hypothesis

The notion that people tend to have lovers or spouses who are similar to themselves in physical attractiveness and other assets.